Paragraph 1 I1
Northern Ireland Not yet in force
Subject to paragraph 2, the maximum length of the period in respect of which an election may be made under regulation C3 or C6 is
where—
-
A is the length of time specified in the second column of the Table opposite the person’s adjusted age in the first column of the Table; and
-
B is the length of any additional period already purchased or in course of being purchased by him.
TABLE
| Adjusted age | Length of time |
|---|---|
| Under 50 | 30 years |
| 50 and under 51 | 23 years |
| 51 and under 52 | 16 years |
| 52 and under 53 | 9 years |
| 53 and under 54 | 2 years |
| 54 and over | Twice the difference in days between the adjusted age and 55 years |
A person’s adjusted age—
if he has continued in pensionable employment since the start of his first such employment and has not been credited with reckonable service on the receipt of a transfer value in respect of comparable service, is his age at the start of his first pensionable employment; and
in any other case, is
where—
-
C is his age at the start of his most recent pensionable employment; and
-
D is the total of the time he had then spent in pensionable employment and the length of any reckonable service with which he has been credited on the receipt of a transfer value in respect of comparable service.
Annotations
Commencement
- I1
Sch. 3 para. 1 in operation at 2.11.1998, see reg. A1