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Article D1 Contributions by participants

Original text. Later amendments are not shown.

(1)

Subject to paragraph (3) and article D3, there shall be deducted from each payment in respect of salary made to a participant 6% of that payment; and all sums so deducted shall be paid into the Fund.

(2)

In this article, “salary” means–

(a)

in the case of a participating member who is not a participating office holder, his member’s salary;

(b)

in the case of a participating office holder who is not a participating member, his office holder’s salary; and

(c)

in the case of a participant who is both a participating member and a participating office holder, his member’s salary and his office holder’s salary.

(3)

Where a person’s aggregate period of reckonable service as a participating member exceeds that which would give rise to the maximum pension allowed in respect of that person as a participating member under article F4 or F5, no deduction shall be made under this article from payments in respect of his member’s salary.

(4)

If any salary from which a deduction is required to be made under this article is not drawn, there shall be set aside, out of moneys available for the payment, a sum equal to the relevant deduction; and any sum so set aside shall be paid into the Fund.