Regulation 3 Accrual rate

For paragraph (3A) of regulation F2, there shall be substituted—

“(3A)

In paragraph (1) of this regulation “the appropriate fraction” means—

(a)

in the case of a participating Member in service on or after 1st April 1995 who has not exercised an option under regulation D1(3),

(i)

in the case of a year or part of a year ending before 15th July 2002, one-fiftieth, or,

(ii)

in the case of a year or part of a year commencing on or after 15th July 2002, one-fortieth; or

(b)

in the case of a participating Member who has exercised an option under regulation D1(3A),

(i)

in the case of a year or part of a year ending before 5th July 2001, one-fiftieth, and,

(ii)

in the case of a year or part of a year commencing on or after 5th July 2001, one-fortieth; or

(c)

in the case of a participating Member who has exercised an option under regulation D1(3), one-fiftieth.”

In paragraph (4) of regulation F2, there shall be substituted for the reference to “paragraph (4)” a reference to “paragraph (3)”.

After paragraph (4) of regulation F2, there shall be inserted—

“(4A)

For the purposes of paragraph (3A) of this regulation, in the case of a participating Member to whom sub-paragraph (a) applies,

(a)

so much of the period commencing on 1st April 2002 and ended with 14th July 2002 as fell within his aggregate period of reckonable service shall be treated as a part of a year in relation to which sub-paragraph (i) of that paragraph applies; and

(b)

so much of the period commencing on 15th July 2002 and ended with 31st March 2003 as fell within his aggregate period of reckonable service shall be treated as a part of a year in relation to which sub-paragraph (ii) of that paragraph applies.”

“(4B)

For the purposes of paragraph (3A) of this regulation, in the case of a participating Member to whom sub-paragraph (b) applies,

(a)

so much of the period commencing on 1st April 2001 and ended with 4th July 2001 as fell within his aggregate period of reckonable service shall be treated as a part of a year in relation to which sub-paragraph (i) of that paragraph applies; and

(b)

so much of the period commencing on 5th July 2001 and ended with 31st March 2002 as fell within his aggregate period of reckonable service shall be treated as a part of a year in relation to which sub-paragraph (ii) of that paragraph applies.”

For paragraph (2)(b) of regulation F4 there shall be substituted—

“(b)

an amount equal to the appropriate percentage of a Member’s ordinary salary in respect of that year, the appropriate percentage being that at which deductions were made from his salary as a participating office holder by virtue of regulation D2(3) or D2(3A) or section 3(2) of the 1972 Act”.

Paragraph (3) of regulation F4 shall be amended by substituting for the word “For”, at the beginning, the words “Subject to paragraph (3A), for”.

After paragraph (3) of regulation F4 there shall be inserted—

“(3A)

(a)

Where a person who was a participating office holder on 15th July 2002 has not made the option referred to in regulation D2(3), the calculation of his contribution credit for the year beginning 1st April 2002 shall be made by calculating separately credits for the two parts of the year from 1st April 2002 to 14th July and from 15th July 2002 to 31st March 2003 applying respectively the appropriate percentages in regulation D2(3)(a) and (b) and the appropriate fractions in regulation F4(5A)(a) and by adding the two credits together.

(b)

Where a person who was a participating office holder on 15th July 2002 has made the option referred to in regulation D2(3A), the calculation of his contribution credit for the year beginning 1st April 2001 shall be made by calculating separately credits for the two parts of the year from 1st April 2001 to 4th July 2001 and from 5th July 2001 to 31st March 2002 applying respectively the appropriate percentages in regulation D2(3A)(a) and (b) and the appropriate fractions in regulation F4(5A)(b) and by adding the two credits together.”

For paragraph (5A) of regulation F4, there shall be substituted—

“(5A)

In paragraph (3) of this regulation “the appropriate fraction” means—

(a)

in the case of a participating office holder in service on or after 1st April 1995 who has not exercised an option under regulation D2(3),

(i)

in the case of a year or part of a year ending before 15th July 2002, one-fiftieth, or,

(ii)

in the case of a year or part of a year commencing on or after 15th July 2002, one-fortieth; or

(b)

in the case of a participating office holder who has exercised an option under regulation D2(3A),—

(i)

in the case of a year or part of a year ending before 5th July 2001, one-fiftieth, and,

(ii)

in the case of a year or part of a year commencing on or after 5th July 2001, one-fortieth; or

(c)

in the case of a participating office holder who has exercised an option under regulation D2(3), one-fiftieth.”