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PART 9E+WContributions

CHAPTER 3E+WRepayment of members' contributions after short-service

Meaning of “entitlement day” (repayment of balance of contributions)E+W

188.  The entitlement day for repayment of the balance of contributions is one month after the last day of pensionable service.

Entitlement to repayment of balance of contributionsE+W

189.—(1) A person (P) is entitled on the entitlement day to a repayment of the balance of contributions, calculated in accordance with regulation 191, if—

(a)P has left all pensionable service and does not re-enter pensionable service before the entitlement day;

(b)P has applied under regulation 190 for the repayment; and

(c)paragraph (2) does not apply.

(2) This paragraph applies if—

(a)P is qualified for retirement benefits;

(b)a transfer payment has been made in respect of P's pensionable service; or

(c)P is in a period of post-benefit service immediately before the last day of pensionable service M1.

(3) For the purpose of this regulation, P is in pensionable service while P is absent on maternity leave, paternity leave, F1... parental leave[F2, shared parental leave] [F3, parental bereavement leave] or adoption leave if P is entitled to return from leave by virtue of Part 8 of the Employment Rights Act 1996 M2.

(4) If a repayment of the balance of contributions is made, P's rights under this scheme are extinguished.

(5) This regulation is subject to regulation 183 (general prohibition on unauthorised payments).

Textual Amendments

Marginal Citations

M1See regulation 124 for P's entitlement to a short-service annuity if P is not re-qualified for retirement benefits in respect of a period of post-benefit service.

Application for repayment of balance of contributionsE+W

190.—(1) A person (P) must apply in writing to the scheme manager for a repayment of the balance of contributions.

(2) P must satisfy a written request from the scheme manager to provide any information in the request.

(3) The information must be information—

(a)in P's possession; or

(b)which P can reasonably be expected to obtain.

Calculation of balance of contributionsE+W

191.—(1) The balance of contributions is (A-B)-C, where—

(2) The amounts are—

(a)all members' contributions, additional pension contributions, buy-out contributions and faster accrual contributions paid up to the date of receipt of the application for repayment, except any paid in respect of a period of pensionable service for which a short-service serious ill-health grant has been paid; and

(b)interest on those contributions from the first day of the financial year following that in which they were paid to the date of payment at 3% per year, compounded with yearly rests.

(3) The deductions are—

(a)the amount of any previous repayment under regulation 189; and

(b)if the scheme manager has paid a contributions equivalent premium, the amount recoverable by the scheme manager under sections 61 to 63 of PSA 1993.