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Paragraph 1 I1

Northern Ireland Not yet in force

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

(1)

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

A-B,

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 ageLength of time
Under 5030 years
50 and under 5123 years
51 and under 5216 years
52 and under 539 years
53 and under 542 years
54 and overTwice the difference in days between the adjusted age and 55 years
(2)

A person’s adjusted age—

(a)

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

(b)

in any other case, is

C-D,

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