{
  "url": "https://openlegislation.uk/parliamentary-pensions-additional-voluntary-contributions-scheme-regulations-1993/note",
  "json_url": "https://openlegislation.uk/parliamentary-pensions-additional-voluntary-contributions-scheme-regulations-1993/note.json",
  "legislation": "uksi/1993/3252",
  "legislation_title": "The Parliamentary Pensions (Additional Voluntary Contributions Scheme) Regulations 1993",
  "legislation_url": "https://openlegislation.uk/parliamentary-pensions-additional-voluntary-contributions-scheme-regulations-1993",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations make provision for participants in the Parliamentary Pension Scheme (constituted by the provisions of regulations made under section 2 of the Parliamentary and other Pensions Act 1987) to pay additional voluntary contributions, in order to secure additional benefits within limits determined by the Board of Inland Revenue. Regulation 3 provides for the AVC scheme to be administered by the Trustees of the Parliamentary Contributory Pension Fund.\nRegulation 5 deals with the payment of regular and lump sum contributions and imposes a limit on their total amount. A transfer value to the AVC scheme may be accepted by the Trustees only if it represents the realisable value of the contributor’s own voluntary contributions. Regulation 6 provides for the Trustees to invest contributions in accordance with any instructions given by the contributor, which may include instructions to pay all or part of the contributions to secure a lump sum death benefit in the event of death while paying such contributions.\nRegulation 7 sets out what benefits are available and when. On retirement, regulation 9 provides that investments (except those made with death benefit contributions) are to be realised and retirement or dependants' pensions, or both, purchased with the proceeds from an insurance company or friendly society in accordance with the contributor’s instructions. Regulation 10 sets out the circumstances in which, before retirement, the realisable value of a contributor’s investments may be transferred to another pension scheme, used to purchase an annuity, or returned to him.\nRegulation 11, with Schedule 2, set out the limits imposed by the Board of Inland Revenue on all kinds of benefits payable under the Regulations; to the extent that any limit would otherwise be exceeded, regulation 12 provides that the contributor may choose to use the excess to increase or to provide another permitted benefit, to link to the Index of Retail Prices a pension which would otherwise be payable at a flat rate or to have the amount of the excess repaid, after deduction of tax.\nRegulation 13 permits the Trustees to require an institution to surrender the whole or part of the value of contributions invested with it; the Trustees must then re-invest the amount surrendered in accordance with regulation 6. Where the Trustees are liable for tax in respect of any payment they may make, regulation 14 permits them to deduct tax before making the payment. Regulation 15 specifies that the costs of establishing and administering the AVC scheme are to be borne by the Parliamentary Contributory Pension Fund and regulation 16 prohibits the assignment or charge of any benefits payable under the AVC scheme.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1993/3252/note",
    "retrieved_at": "2026-10-29T13:43:35.544047+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}