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Schedule 7 LIMITATION OF PAYMENTS UNDER PART CI1

England, Wales and Scotland

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

If the amount payable by a pensionable employee by way of additional contributions in pursuance of a notice given under regulation D10 or D10A of the 1974 regulations or an election made under regulation C6 or C8 or the amount of an instalment payable in pursuance of an election under regulation C8, as the case may be, when aggregated with—

(a)

any other amounts payable by him under any of those regulations in addition to the first-mentioned amount, and

(b)

the amount payable by him by way of contributions under regulation C2,

exceeds 15% of his remuneration, he shall satisfy his liability in respect of the excess over 15% by payment in a lump sum of a sum calculated by the Government Actuary to represent the capital value of the excess.

Annotations

Commencement

I1

Sch. 7 in force at 1.3.1986, see reg. A1