Paragraph 13
(1)
Subject to paragraphs 14 to 16, the additional contributions consist of a lump sum of
where—
-
A is the length of the past period (that is to say, the period specified under regulation C4 (7)(a) or (8)(b)), expressed in years and any fraction of a year,
-
B is the annual rate of the person’s contributable salary at the date on which notice of the election was given, and
-
C is the percentage ascertained from Table 3 below.
TABLE 3
| Age at date of election | Percentage |
|---|---|
| under 23 | 21.08 |
| 23 | 20.71 |
| 24 | 20.38 |
| 25 | 20.08 |
| 26 | 19.71 |
| 27 | 19.38 |
| 28 | 18.93 |
| 29 | 18.52 |
| 30 | 18.14 |
| 31 | 17.79 |
| 32 | 17.47 |
| 33 | 17.44 |
| 34 | 17.41 |
| 35 | 17.38 |
| 36 | 17.45 |
| 37 | 17.52 |
| 38 | 17.66 |
| 39 | 17.81 |
| 40 | 17.96 |
| 41 | 18.11 |
| 42 | 18.27 |
| 43 | 18.48 |
| 44 | 18.69 |
| 45 | 18.91 |
| 46 | 19.12 |
| 47 | 19.34 |
| 48 | 19.64 |
| 49 | 19.94 |
| 50 | 20.24 |
| 51 | 20.54 |
| 52 | 20.85 |
| 53 | 21.22 |
| 54 | 21.61 |
| 55 | 22.01 |
| 56 | 22.45 |
| 57 | 22.92 |
| 58 | 23.45 |
| 59 | 24.03 |
| 60 | 24.73 |
| 61 | 24.29 |
| 62 | 23.85 |
| 63 | 23.39 |
| 64 | 22.93 |
| 65 | 22.46 |
| 66 | 21.99 |
| 67 | 21.49 |
| 68 | 21.00 |
| 69 | 20.51 |
(2)
If the lump sum is not paid within one month after the date on which the election was accepted the election ceases to have effect.