Regulation 128O Refund of contributions: excess contributionsF1
(1)
If the total contributions paid by an unretired FPJABS member exceed the smaller of—
(a)
the amount necessary to purchase the number of added units of benefit notified to the administrators by the member in the member’s membership notice; and
(b)
the amount necessary to purchase the maximum number of added units of benefit permissible under this Part (calculated on the basis that the assumed retirement age were the age of the member on actual retirement),
the member is entitled to a refund of the excess contributions.
(2)
Where a refund is payable under this regulation, it must be paid together with interest.
Annotations
Textual amendments
- F1
Pts. 14A, 14B inserted (1.4.2023) by The Judicial Pensions (Fee-Paid Judges) (Amendment) Regulations 2023 (S.I. 2023/403), reg. 1(1), Sch.