Regulation 39F Revised contributionsF1

(1)

For each scheme year falling in the relevant period, revised contributions are equal to the difference between —

(a)

the amount of contributions P has paid at the reduced member contribution rate on Ps pensionable earnings over that period; and

(b)

the amount of contributions payable at the full member contribution rate over that period determined in accordance with rates specified in paragraph (2).

(2)

In respect of each scheme year falling in the relevant period, the full member contribution rate for pensionable earnings of —

(a)

£27,000 or less, is 12.44%;

(b)

more than £27,000 but less than £60,000, is 13.44%;

(c)

more than £60,000, is 13.78%.

(3)

Revised contributions —

(a)

must be paid in full; but

(b)

may be paid in one or more instalments as the scheme manager may determine.

(4)

P must pay the revised contributions no later than the last day of the period of 5 years commencing with the day on which the scheme manager gives P the notice referred to in regulation 39E.

(5)

Where P fails to pay any part of the revised contributions in accordance with this regulation —

(a)

P’s election lapses;

(b)

any revised contributions P has paid must be returned to P; and

(c)

Chapter 4 applies to P in respect of the relevant period.

Annotations

Textual amendments

F1: Regs. 39A-39I inserted (with effect in accordance with reg. 1) by The Police Pensions (Amendment) Regulations (Northern Ireland) 2025 (S.R. 2025/190), regs. 1, 2(3)