The Parliamentary Pensions (Amendment) Regulations 2002

Contributions

2.—(1) For paragraph (3) of regulation D1 in the Principal Regulations, there shall be substituted:—

“(3) Subject to paragraph (3A) below, for the purposes of paragraph (1) above the appropriate percentage—

(a) in relation to a payment of salary made in respect of a period beginning on or after 1st April 1992 and ending before 15th July 2002, is 6 per cent; or

(b) in relation to a period beginning on or after 15th July 2002,

(i) is 9 per cent; or

(ii) where a participating Member opts to contribute to the Fund at a reduced rate, is 6 per cent.”

(2) After paragraph (3) of regulation D1 there shall be inserted:

“(3A) Where a person who is a Member of the House of Commons on 15th July 2002 so opts, the appropriate percentage—

(a) in relation to a payment of salary made in respect of a period beginning on or after 1st April 1992 and ending before 5th July 2001, is 6 per cent; and

(b) in relation to a period beginning on or after 5th July 2001 is 9 per cent.

(3B) A participating Member shall make the options referred to in paragraphs (3) and (3A) above by giving notice in writing to the Trustees—

(a) in the case of a participating Member who is a Member of the House of Commons on 15th July 2002, no later than 31st December 2002; or

(b) in the case of a person who has been a Member of the House of Commons but who is not a Member of that House on 15th July 2002, not more than three months after the date of the General Election or by-election at which he is next re-elected to membership of the House of Commons; and

(c) otherwise not more than three months after the date of the General Election or by-election at which he is elected for the first time to membership of the House of Commons.

(3C) Where the option referred to in paragraph (3) is exercised in accordance with sub-paragraph (a) of paragraph (3B), the effective date of the option is 15th July 2002; and there shall be repaid to the participating Member the difference between any contributions deducted from his salary at the rate of 9 per cent since the effective date and the contributions which would have been deducted from it at the rate of 6 per cent.

(3D) Where the option referred to in paragraph (3) is exercised in accordance with sub-paragraph (b) or (c) of paragraph (3B), the effective date of the option is the date of the election referred to in sub-paragraph (b) or (c); and there shall be repaid to the participating Member the difference between any contributions deducted from his salary at the rate of 9 per cent since the effective date and the contributions which would have been deducted from it at the rate of 6 per cent.

(3E) Where the option referred to in paragraph (3A) is exercised, the effective date of the option is 5th July 2001; and the participating Member shall pay to the Trustees within twenty-eight days of his exercise of the option, or within such longer period as the Trustees may in their discretion determine, the sum certified by the Trustees as being the additional amount which would have been deducted from his salary had contributions been deducted from it at the rate of 9 per cent from the effective date.”

(3) For paragraph (3) of regulation D2 in the Principal Regulations, there shall be substituted—

“(3) Subject to paragraph (3A) below, for the purposes of paragraph (1) above the appropriate percentage—

(a) in relation to a payment of salary made in respect of a period beginning on or after 1st April 1992 and ending before 15th July 2002, is 6 per cent; or

(b) in relation to a period beginning on or after 15th July 2002,

(i) is 9 per cent; or

(ii) where a participating office holder opts to contribute to the Fund at a reduced rate, is 6 per cent.”

(4) After paragraph (3) of regulation D2 there shall be inserted—

“(3A) Where a person who is an office holder on 15th July 2002 so opts, the appropriate percentage—

(a) in relation to a payment of salary made in respect of a period beginning on or after 1st April 1992 and ending before 5th July 2001, is 6 per cent; and

(b) in relation to a period beginning on or after 5th July 2001 is 9 per cent.

(3B) Subject to paragraph (3C), a participating office holder shall make the options referred to in paragraphs (3) and (3A) above by giving notice in writing to the Trustees—

(a) in the case of a participating office holder who is an office holder on 15th July 2002, no later than 31st December 2002; or

(b) in the case of a person who has been an office holder but who is not an office holder on 15th July 2002, not more than three months after the date on which he is next appointed as an office holder; and

(c) otherwise not more than three months after the date on which he is appointed as an office holder for the first time.

(3C) Where a participating office holder is also a participating Member—

(a) if he exercises or has exercised the option referred to in regulation D1(3), he shall also exercise the option referred to in paragraph (3) above; and

(b) if he exercises the option referred to in regulation D1(3A), he shall also exercise the option referred to in paragraph (3A) above.

(3D) Where the option referred to in paragraph (3) is exercised in accordance with sub-paragraph (a) of paragraph (3B), the effective date of the option is 15th July 2002; and there shall be repaid to the participating office holder the difference between any contributions deducted from his salary at the rate of 9 per cent since the effective date and the contributions which would have been deducted from it at the rate of 6 per cent.

(3E) Where the option referred to in paragraph (3) is exercised in accordance with sub-paragraph (b) or (c) of paragraph (3B), the effective date of the option is the date of the election referred to in sub-paragraph (b) or (c); and there shall be repaid to the participating officer holder the difference between any contributions deducted from his salary at the rate of 9 per cent since the effective date and the contributions which would have been deducted from it at the rate of 6 per cent.

(3F) Where the option referred to in paragraph (3A) is exercised, the effective date of the option is 5th July 2001; and the participating office holder shall pay to the Trustees within twenty-eight days of his exercise of the option, or within such longer period as the Trustees may in their discretion determine, the sum certified by the Trustees as being the additional amount which would have been deducted from his salary had contributions been deducted from it at the rate of 9 per cent from the effective date.”