Regulation 8
Where a participant in a funded scheme has received after the date of the relevant event and before the date on which these Regulations come into operation, any payment under the scheme by way of a return of contributions and interest paid by him, with or without interest thereon (hereinafter in this Regulation referred to as “the refund”)—
the sum to be transferred in accordance with paragraph (2) of Regulation 2 or, as the case may be, paragraph (1) of Regulation 6 of these Regulations shall be reduced by the amount of the refund;
the pension payable to or in respect of him under the pension rights to be accorded to him in accordance with paragraph (1) of Regulation 3 of these Regulations or, as the case may be, the accrued pension rights payable to or in respect of him in accordance with sub-paragraph (a) of paragraph (1) of Regulation 4 of these Regulations shall, so far as they are attributable to his employment as an officer or servant before the date of the relevant event, be reduced by reason of the refund in the proportion which the amount of the refund bears to the sum to be transferred to the Commission under sub-paragraph (a) of paragraph 2 of Regulation 2 of these Regulations;
the accrued pension rights payable to or in respect of him in accordance with sub-paragraph (a) of paragraph (1) of Regulation 7 of these Regulations shall be reduced by reason of the refund in the proportion which the amount of the refund bears to the sum to be transferred to the Commission under Regulation 6 of these Regulations;
any lump sum to be paid to him in accordance with sub-paragraphs (b), (c) or (d) of paragraph (1) of Regulation 4 or, as the case may be, sub-paragraphs (b), (c) or (d) of paragraph (1) of Regulation 7 of these Regulations shall be reduced by the amount of the refund;
the accrued pension rights to be ensured to an officer or servant in accordance with paragraph (1) of Regulation 5 of these Regulations shall be reduced by reason of the refund in such manner as may be provided by the arrangement made under that paragraph.
Provided that—
this paragraph shall not apply if the participant concerned shall within three months after the date on which these Regulations come into operation pay to the persons administering the scheme the amount of the refund received by him;
sub-paragraphs (b), (c) and (d) of this paragraph shall not apply if the participant concerned shall within three months of the said date pay to the Commission the amount of the refund received by him or, if the participant concerned shall within the said period of three months make arrangements with the Commission to pay to them the amount of the refund received by him by instalments, the said sub-paragraphs shall apply and have effect as if the references therein to the refund were references to the aggregate amount of the instalments outstanding and unpaid at the date on which the pension, accrued pension rights or lump sum, as the case may be, becomes payable to or in respect of the applicant.
Where provision was made in any funded scheme for the payment or transfer of benefits to some person other than the participant concerned the Commission or, as the case may be, the persons administering the scheme, shall, subject to the same conditions, if any, as govern such payment or transfer in that scheme, afford the officer or servant concerned facilities as near as may be to those contained in the scheme for the similar payment or transfer of benefits comprised in his accrued pension rights.