Regulation 3 Accrued rights premiums
For the purposes of calculating the amount of an accrued rights premium, the Secretary of State shall apply the actuarial tables in Schedule 1 or the actuarial tables in Schedule 2 in accordance with the provisions of this regulation.
In a case where the weekly rate of the guaranteed minimum pension to which the earner in question has accrued rights under the scheme in question does not fall to be determined in accordance with provisions included in the scheme by virtue of section 35(7) of the 1975 Actf1 (revaluation without reference to orders under section 21 of the 1975 Act), the Secretary of State shall apply the actuarial tables in Schedule 1.
In a case where the weekly rate of the guaranteed minimum pension to which the earner in question has accrued rights under the scheme in question falls to be determined wholly or partly in accordance with provisions included in the scheme by virtue of section 35(7) of the 1975 Act and the scheme’s provisions conform with the additional requirement of regulation 22 of the Contracting-out Regulationsf2 the Secretary of State shall apply the actuarial tables in Schedule 1.
In any other case the Secretary of State shall apply the actuarial tables in Schedule 2.
Annotations
Footnotes
- f1
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Section 35(7) was amended by the Social Security Act 1979 (c. 18), Schedule 3, paragraph 18(b) and by the Social Security Act 1985 (c. 53), Schedule 3, paragraphs 2 and 7 and was modified in relation to certain transfers by regulation 44(b) of S.I. 1984/380 and by regulation 4(b) of S.I. 1987/1118.
- f2
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Regulation 22 was amended by the Social Security Act 1989 (c. 24), Schedule 6, paragraph 21 by the following amending instruments, S.I. 1984/475, 1985/1323, 1986/1716, 1987/1114.