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Regulation 4 Election to pay regular and lump sum contributions

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

(1)

A person in pensionable employment may at any time elect to pay—

(a)

regular contributions for investment under regulation 9(1);

(b)

a lump sum contribution for investment under regulation 9(1); or

(c)

regular contributions to provide for a lump sum death benefit under these Regulations.

(2)

The notice of such an election is to specify—

(a)

in the case of an election under paragraph (1)(a) or (c), the amount of each regular contribution or, if expressed as a percentage of salary, that percentage;

(b)

in the case of an election under paragraph (1)(b) the amount of the contribution;

(c)

in the case of an election under paragraph (1)(a) or (b) the fund or funds in which contributions are to be invested; and

(d)

in the case of an election under paragraph 1(c) the amount to be secured which must not be less than £5,000.