Regulation 3 Specified marginsI1
United Kingdom
The cost of the relevant scheme must remain within the following margins—
(a)
an upper margin, being a rate of F13 percentage points above the employer cost cap of the scheme; and
(b)
a lower margin, being a rate of F23 percentage points below the employer cost cap of the scheme.
Annotations
Textual amendments
- F1
Word in reg. 3(a) substituted (3.8.2022) by The Public Service Pensions (Employer Cost Cap and Specified Restricted Scheme) Regulations 2022 (S.I. 2022/787), regs. 1, 3(2)(a)
- F2
Word in reg. 3(b) substituted (3.8.2022) by The Public Service Pensions (Employer Cost Cap and Specified Restricted Scheme) Regulations 2022 (S.I. 2022/787), regs. 1, 3(2)(b)
Commencement
- I1
Reg. 3 in force at 1.4.2014, see reg. 1