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Regulation 65 Changes of employment in which membership is continued

Original text. Later amendments are not shown.

(1)

If a member who is paying AVCs leaves his employment with the employer who was his employing authority when he elected under regulation 60(1) to pay them and enters a new employment in which he is also a member, he may elect that that election should continue to have effect.

(2)

But he may only do so if he enters the new employment before the expiry of the period of one month and one day beginning with the date he left the former employment.

(3)

The election must be made by notice given in writing to the member's new employing authority before the expiry of the period of one month beginning with the date the new employment begins (or such longer period as that authority may allow).

(4)

The new employing authority must send the notice of election to the appropriate administering authority in relation to the new employment.

(5)

The member may continue paying AVCs under his existing election with effect from his next pay day in his new employment after his election to continue.

(6)

But he may not pay any AVCs to cover any period falling between the employments.

(7)

If the same authority are the member's appropriate administering authority in both employments, they must continue to apply any AVCs to be used for death benefits towards the pension policy mentioned in regulation 63 and continue to invest all other AVCs paid by him as specified in regulation 64(1).

(8)

If those authorities are different, the former authority must transfer to the new authority a sum equal to the accumulated value of his additional contributions invested under regulation 64(1).

(9)

They must also assign to the new authority their rights under any pension policy under regulation 63 in respect of him which are assignable.

(10)

The new authority must apply and invest the sum received and payments of additional contributions as mentioned in paragraph (7).

(11)

Regulation 64(2), this regulation and regulation 66 apply to changes in the new employment as if the election under regulation 60(1) had been given in that employment (and so on).