Effect of part payment of periodical contributionsN.I.
173.—(1) This regulation applies if—
(a)the full number and amount of contributions due under an option under regulation 165 for the whole contribution option period are not made, and
(b)regulation 172(1) to (4) does not apply.
(2) The increase in the member's pension under Chapter 4 is the appropriate proportion of the increase that would have been made under regulation 171(2) if the full number and amount of contributions had been made (but taking account of regulation 172(5) if that applies).
(3) In the case of an option under regulation 165(1)(b), the increase in any benefit payable under Chapter 5 (death benefits) in respect of the member is the appropriate proportion of the increase that would have been made under regulation 171(4) if the full number and amount of contributions had been made (but taking account of regulation 172(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 Department.
(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 165 for the whole contribution option period, and
(b)the preservation requirements.