Paragraph 8 Limits on purchase of added years
Subject to sub-paragraph (2) below, the amount of a participating Member’s periodical contributions for the purchase of added years, when aggregated with his contributions under regulation D1 and any other additional voluntary contributions, shall not in any tax year exceed—
in the case of a participating Member who holds or has held the office of Prime Minister and First Lord of the Treasury or Speaker of the House of Commons, 15 per cent of his salary as a Member of the House of Commons or, if that salary exceeds the permitted maximum, 15 per cent of the permitted maximum; or
in the case of any other participating Member, 15 per cent of a Member’s ordinary salary or, if he joined the principal scheme on or after 1st June 1989 and that salary exceeds the permitted maximum, 15 per cent of the permitted maximum.
Sub-paragraph (1) above shall not apply to the purchase of added years by periodical contributions payable for a period of four years in accordance with paragraph 4(1)(b), and for the purpose of the calculation referred to in sub-paragraph (1) such periodical contributions shall be disregarded.
Subject to sub-paragraph (4) below, sub-paragraph (1) above shall not apply to a participating Member’s periodical contributions which on 31st July 1984 were payable in accordance with paragraph 4(1)(a).
If, after 31st December 1984 a participating Member applies to the Trustees to purchase added years by periodical contributions, the annual amount of periodical contributions payable by him in accordance with paragraph 4(1)(a), or for a period of five years in accordance with paragraphs 2(2) and 4(1)(b), shall not be such as to exceed, at any time during the period such periodical contributions would be so payable, the amount (if any) by which for the time being—
the annual amount of his periodical contributions referred to in sub-paragraph (3) of this paragraph (if any) aggregated with the annual amount of his contributions under regulation D1 and any other additional voluntary contributions,
is less than—
the limit under sub-paragraph (1) of this paragraph.
Subject to sub-paragraph (1) above, the maximum added years that a participating Member may purchase both by lump sum payment and by periodical contributions shall be calculated, so that his pension under regulation F1, or under regulation F3 when aggregated with the pension equivalent of any lump sum under regulation G1 and any pension under any additional voluntary contributions scheme shall not exceed whichever may be appropriate of the limits set out in Schedule 2.