Regulation 2 Determination of the amount required for restoring State scheme rights
United Kingdom
For the purposes of paragraph 5(3A) to (3E) of Schedule 2 to the 1993 Act the amount required for restoring State scheme rights in relation to a member of a F1scheme which was a contracted-out occupational pension scheme and which started to wind up before the second abolition date shall be—
in a case where the prescribed person may elect under section 55(2) of that Act M1 to pay a contributions equivalent premium, the amount of that premium calculated in accordance with section 58(4) of that Act; and
in any other case, the amount calculated in accordance with regulation 3.
Annotations
Textual amendments
- F1
Words in reg. 2 substituted (6.4.2016) by The Pensions Act 2014 (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order 2016 (S.I. 2016/200), arts. 1(2), 13(3)
Marginal citations
- M1
Section 55(2) was substituted by section 141(1) of the Pensions Act 1995.