Regulation 35 Insertion of new regulation 54AI1

After regulation 54 insert—

“Calculation of initial pre-commencement personal contributions amount: service credit days

54A.

The initial pre-commencement personal contributions amount in respect of service credit days is determined as follows—

• Step 1

  For the fee period from 1st April 2012 to 31st March 2013, determine the total of fees paid to P in respect of service credit days.

• Step 2

  Multiply the total determined under Step 1 by the percentage specified in relation to that sum in column 2 of Table 9 of the Contributions Tables.

• Step 3

  For the fee period from 1st April 2013 to 31st March 2014, determine the total of fees paid to P in respect of service credit days.

• Step 4

  Multiply the total determined under Step 3 by the percentage specified in relation to that sum in column 2 of Table 10 of the Contributions Tables.

• Step 5

  Add together the amounts determined under Steps 2 and 4.”.