Regulation 33 Rights to return of contributions

In regulation 86(4), for the words “to such period of membership as is appropriate in accordance with guidance issued by the Government Actuary” substitute–

• “to a period of membership equal to the period of membership in the employment which has ceased, as reduced under regulation 10(4) if the employment which has ceased was part-time, multiplied by the fraction–

  $$\genfrac{}{}{0.1ex}{}{\mathrm{whole-time}\mathrm{rate}\mathrm{of}\mathrm{pay}\mathrm{in}\mathrm{the}\mathrm{employment}\mathrm{which}\mathrm{has}\mathrm{ceased}}{\mathrm{whole-time}\mathrm{rate}\mathrm{of}\mathrm{pay}\mathrm{in}\mathrm{the}\mathrm{employment}\mathrm{which}\mathrm{is}\mathrm{continuing}}$$

  where

  • the rate of pay in each case is the annual pay as defined in Regulation 12 on the last day of employment in the employment which has ceased”.