Paragraph 7 I1
England, Wales and Scotland Not yet in force
If adding the additional contributions payable by a Class B member or a Class C member under an agreement made by him before the commencement date (other than AVCs payable under Schedule 7A to the 1987 Regulations) to those payable by him under these Regulations and any FSAVC scheme would cause the total of those contributions to exceed 15 per cent. of his remuneration, he may not pay that excess, but he may pay a lump sum representing it to the Scheme at a time permitted by the Retirement Benefits Schemes (Continuation of Rights of Members of Approved Schemes) Regulations 1990.
That lump sum must be calculated in a way approved by the Government Actuary, who may issue guidance indicating how it is to be done.
Annotations
Commencement
- I1
Sch. 4 para. 7 in force at 1.4.1998, see reg. 1