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Paragraph 9D Early Leavers

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

If a Member leaves Contracted–out Service under the Scheme before State Pension Age, the Member’s GMP accrued up to leaving shall be increased by the appropriate percentage specified in the last order made under section 148 of the Social Security Administration Act 1992f1 to come into force before the tax year in which the Member reaches State Pension Age or dies, if earlier. If, however, a GMP is to be transferred to a scheme, or bought out by a Buy–out Policy, under which the GMPs of early leavers are increased by another method, the Trustee may adopt that other method for the GMP in question.

Annotations

Footnotes

f1

1992 c. 5.