Regulation 44 Contributions equivalent premiumsF1I1

Where an employing authority pays a contributions equivalent premium under section 51 of the 1993 Act in respect of any member, it is entitled to recover, or where the employer is the Committee, retain from the fund or admission agreement fund a sum not exceeding the premium.

But if the employing authority may recover or retain any sum under section 57 of that Act in respect of the premium, then only the balance may be recovered or retained under paragraph (1).

Where the contributions equivalent premium is refunded under regulation 54(1)(c) (re-entry into employment which is contracted out by reference to the same scheme) of the Occupational Pension Schemes (Contracting out) Regulations (Northern Ireland) 1996^f1, the Committee shall credit to the fund or admission agreement fund a sum equal to the amount of the premium.