Regulation 32 Amendment of regulation 43

Regulation 43 (eligibility to make buy-out election) is amended as follows.

In sub-paragraph (a) of paragraph (3), after “this scheme” insert “in accordance with paragraph (3A)”.

After paragraph (3), insert—

“(3A)

For the purposes of paragraph (3)(a), M is treated as entering pensionable service on each occasion that an active member’s account is established in respect of that service in accordance with regulation 24(1)(a).”.

For paragraph (5), substitute—

“(5)

M may make an election under this regulation on one occasion only during each period of pensionable service in respect of which an active member’s account is established in accordance with regulation 24(1)(a).”.