Regulation 128K Annual contribution rate for added units of benefit for unretired FPJABS membersF1F6

The F2annual contribution rate for each added unit of benefit is determined in accordance with the following formula—F3

where—

• A is the sum of the personal benefits and family benefits percentage figures set out in F4Schedule 4 on the assumed contribution commencement date, which correspond to the length of time between the assumed contribution commencement date and the assumed retirement date

• B is the length of time referred to in the definition of A, in years and fractions of a year, subject to the limit on total contributions allowed in any one year by regulation 128I

• For the purposes of this regulation, F5WS is to be determined as if references to the member’s retirement were instead references to the assumed contributions commencement date.

For each part unit of added benefit purchased the cost is that determined in paragraph (1) multiplied by the appropriate decimal fraction, to a minimum of £0.01.