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2.C.16 Effect of part payment of periodical contributions
This section has no associated Explanatory Memorandum
(1) This regulation applies if—
(a)the full number and amount of contributions due under an option under regulation 2.C.8 for the whole contribution option period are not made, and
(b)regulation 2.C.15(1) to (4) does not apply.
(2) The increase in the member’s pension under Chapter 2.D is the appropriate proportion of the increase that would have been made under regulation 2.C.14(2) if the full number and amount of contributions had been made (but taking account of regulation 2.C.15(5) if that applies).
(3) In the case of an option under regulation 2.C.8(1)(b), the increase in any benefit payable under Chapter 2.E (death benefits) in respect of the member is the appropriate proportion of the increase that would have been made under regulation 2.C.14(4) if the full number and amount of contributions had been made (but taking account of regulation 2.C.15(5) if that applies).
(4) For the purposes of paragraphs (2) and (3), the appropriate proportion is calculated in accordance with such method as the Scheme actuary may determine and specify in guidance given to the Secretary of State.
(5) In making a determination under paragraph (4), the Scheme actuary must have regard to—
(a)the proportion that the total contributions paid bears to the full amount of contributions due under an option under regulation 2.C.8 for the whole contribution option period, and
(b)the preservation requirements.
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