# The National Health Service Pension Scheme Regulations 2015, Regulation 50: Revoking a buy-out election


(1) A member (M) may revoke a buy-out election at any time before the end of the period mentioned in regulation 47(2)(a).
(2) The scheme manager may revoke M's buy-out election if M does not pay contributions for a period of 12 months.
(3) If a buy-out election is or is taken to have been revoked, M's monthly payments cease to be payable on the date of revocation.
(4) If, at the revocation date, the buy-out period during which the contributions were paid was less than 12 months—
(a) the contributions must be re-paid to M; and
(b) the buy-out election ceases to have effect.
(5) If, at the revocation date, the buy-out period during which the contributions were paid is 12 months or more—
(a) contributions paid during the scheme year in which the election is revoked must be repaid to M; and
(b) the buy-out period ends at the end of the previous scheme year.
(6) The revocation date is the date the buy-out election is, or is taken to have been, revoked.

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Source: https://www.legislation.gov.uk/uksi/2015/94/regulation/50 (the official version)
Page: https://openlegislation.uk/national-health-service-pension-scheme-regulations-2015/regulation-50
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.