Paragraph 5

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

Sch.4, para 2(1) amended by Teachers' Superannuation 1993 reg.24(a)
Sch.4, para 4(2)(b) amended by Teachers' Superannuation 1993 reg.24(b)
Sch.4, para 4A added by Teachers' Superannuation 1993 reg.24(c)
Sch.4, para 9(2) amended by Teachers' Superannuation 1993 reg.24(e)
Sch.4, para 14(5) amended by Teachers' Superannuation 1993 reg.24(f)
Sch.4, Table 3 amended by Teachers' Superannuation 1993 reg.24(d)
Sch.4, Pt IV revoked by Teachers Superannuation 1994 reg.22
sch. 4 amended by Teachers' Superannuation 1989

(1)

Subject to sub-paragraphs (2) to (5), if the person—

(a)

before the end of the contribution period ceases to be in full-time pensionable employment, and

(b)

does not again enter such employment within one month and before becoming entitled to retirement benefits,

the principal election ceases to have effect.

(2)

Unless he receives a refund of contributions under regulation C10, he may—

(a)

if he became entitled to payment of retirement benefits on ceasing to hold his employment, on or after applying for them and before receiving a retirement lump sum, or

(b)

in any other case, within 3 months after the end of his employment,

by giving written notice to the Secretary of State elect to complete payment of the additional contributions (so that regulation D3(1)(b) will apply instead of regulation D3(2)) by making a lump sum payment under this paragraph.

(3)

Where he had not attained the age of 60 when he ceased to hold his employment, the amount of the payment is, subject to sub-paragraph (4) and to paragraph 3 of Schedule 3, the actuarial equivalent, when the employment ended, of the additional contributions that would have been payable for the remainder of the contribution period.

(4)

Where—

(a)

when he ceased to hold his employment he had become incapacitated and had not attained the age of 60, and

(b)

he would have attained that age before the end of the contribution period,

the amount of the payment is, subject to paragraph 3 of Schedule 3, the actuarial equivalent, when the employment ended, of the additional contributions that would have been payable after he attained that age.

(5)

Where he had attained the age of 60 when he ceased to hold his employment, the amount of the payment is, subject to paragraph 3 of Schedule 3, E×F, where—

E is the amount of the additional contributions for one year at the rate at which they were last payable, and
F is the multiplier ascertained from, or where the remainder of the contribution period is not an exact number of years by extrapolation from, Table 2 below.

TABLE 2

Years remaining in contribution period	Multiplier
1	0.993
2	1.970
3	2.934
4	3.883
5	4.818
6	5.740
7	6.648
8	7.542
9	8.423
10	9.291

(6)

If the payment is not made within the period allowed by sub-paragraph (2) for making the election, the election ceases to have effect.