PART 3BENEFITS FOR PRACTITIONERS ETC.
CHAPTER 3CONTRIBUTIONS
Additional contributions to purchase additional pensions
Member's option to pay additional periodical contributions to purchase additional pension165
1
An active member may opt to make additional periodical contributions by monthly instalments during the contribution option period—
a
to increase by a specified amount the benefits payable to the member under Chapter 4 (members' retirement benefits) (including if a member dies after a pension becomes payable, the benefits paid to a surviving partner and dependent children at the same rate as the member's pension for three or six months under Chapter 5 (death benefits)), or
b
to increase by a specified amount those benefits and to increase the benefits otherwise payable in respect of surviving partners and dependent children under Chapter 5 (death benefits) in respect of the member.
2
A member may exercise the option under paragraph (1) more than once.
3
If a member exercises an option under paragraph (1), any regular additional contributions must be deducted from the member's earnings and paid to the Department in the same manner as is specified in respect of C1 contributions (within the meaning of regulation 164) in relation to that member.
4
The annual amount of the periodical contributions payable at the beginning of the contribution option period must not be—
a
less than the minimum amount, or
b
an amount, other than a multiple of, the minimum amount.
5
In paragraph (4) “the minimum amount” means the amount that would, in accordance with tables prepared for the Department by the Scheme actuary for the scheme year in which the contributions are paid, be the amount of the contributions required to secure an increase in the member's pension of—
a
£250, or
b
such other amount as the Department may for the time being determine,
assuming that the contributions are made in accordance with the option for the remainder of the option period.
6
The tables referred to in paragraph (5)—
a
may specify different amounts for different descriptions of members, and
b
may be amended during a scheme year,
but no such amendment affects the contributions payable during that year under any option, except an option under which contributions begin to be paid after the date on which the amendment takes effect.
7
The total increase in the member's pension as a result of contributions made under this regulation, taken together with any increase as a result of—
a
contributions made under regulation 167 (member's option to pay additional lump sum contributions to purchase additional pension), or
b
contributions made under regulation 168 (payment of additional lump sum contributions by employing authority),
may not exceed £5000 or such other amount as the Department may for the time being determine (taking into account any increase in the member's pension as a result of the exercise of an option in accordance with regulations 34 to 43).
8
In this Part “the contribution option period”, in relation to an option under this regulation, means a period of whole years, that—
a
is specified in the option,
b
begins with the pay period in respect of which the first contribution is made under the option,
c
is not less than 1 year nor more than 20 years, and
d
does not end later than the member's 65th birthday.