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Article 24 Exclusion of supplemental funds, etc

Original text. Later amendments are not shown.

Where, under any trust deed, rules or other instrument made for the purposes of any affected fund or scheme, provision is made for the voluntary payment by persons interested therein or having pension rights thereunder of contributions additional to those required by such trust deed, rules or other instrument, and those additional contributions are paid into a separate fund or account (hereinafter called “a supplemental fund”) into which no contributions are paid by the employers of those persons and out of which increased or additional benefits by way of pension are payable—

(a)

neither Part IV of these Rules nor Rule 25 shall apply to a supplemental fund;

(b)

pension rights in a supplemental fund shall not be taken into account in determining accrued rights for any purpose of these Rules; and

(c)

the payment of contributions into a supplemental fund in respect of any period of former employment shall not constitute that period a period of pensionable employment.