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Regulation 7 Personal pension protected rights premiums and contracted-out protected rights premiums

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

For the purpose of calculating the cost of providing a guaranteed minimum pension such as is mentioned in section 5(9) of the 1986 Act in relation to a personal pension protected rights premium or in section 44ZA(8) of the 1975 Act in relation to a contracted-out protected rights premium, the Secretary of State shall apply—

(a)

in a case where the person in respect of whom the premium falls to be paid is the earner to whose protected rights the premium relates and he has not attained pensionable age, the actuarial tables in Schedule 1;

(b)

in a case where the person in respect of whom the premium falls to be paid is entitled to receive a pension giving effect to his own protected rights, the actuarial tables in Schedule 4; and

(c)

in a case where the person in respect of whom the premium falls to be paid is a woman who is entitled to receive a pension giving effect to her late husband’s protected rights, the actuarial tables in Schedule 5.