Regulation 35 New paragraph 21A of Schedule 3I1

After paragraph 21 of Schedule 3, insert—

“Winding down employment

21A.

(1)

Sub-paragraph (2) applies where—

(a)

a transition member (P) is in winding down employment under regulation J2^f1 of the 2005 Regulations immediately before P’s transition date; and

(b)

at the time of completing pensionable service under this scheme, P would still have been regarded as being in winding down employment had P remained as an active member of the existing scheme.

(2)

For the purpose of calculating benefits payable under the existing scheme, P’s final salary will be determined by reference to regulation E34(15) of the 2005 Regulations^f2.”.