SCHEDULE 2Scheme flexibilities
PART 2Additional pension election
CHAPTER 4Additional pension contributions by monthly payments
Payment of contributions15
1
P must—
a
make the first monthly payment on or before the start date; and
b
continue to make the monthly payments until the date on which the final monthly payment is due.
2
The contributions payment period must end before P reaches normal pension age.
3
If the scheme manager re-determines the amount of the monthly payment during the contributions payment period, P must pay the re-determined amount from the beginning of the next financial year.
4
P is taken to revoke an additional pension election if—
a
a monthly payment is missed; and
b
the payment is not made within 3 months after P receives a written demand from the scheme manager.