Paragraph 15 Actuarial reduction buy-out
England and Wales
In relation to a scheme year which falls within a buy-out period F1(see regulation 45(4) and (5)) the entry in the account relating to the standard earned pension must note—
(a)
that a buy-out election has effect (unless it is revoked); and
(b)
the number of years in respect of which the actuarial reduction is to be bought out.
Annotations
Textual amendments
- F1
Words in Sch. 9 para. 15 substituted (1.4.2015) by The National Health Service Pension Scheme, Injury Benefits and Additional Voluntary Contributions (Amendment) Regulations 2016 (S.I. 2016/245), regs. 1(8), 86 (with reg. 105)