SCHEDULE 3Payments for added pension
PART 3Periodical payments for added pension
Member’s option to make periodical payments for added pension7
1
The option notice must specify—
a
the periodical payment period; and
b
the amount of the periodical payment to be deducted by the member’s employer from the member’s pay in each pay period.
2
The amount of the periodical payment may be expressed as—
a
a percentage of the amount of a payment of the member’s pensionable earnings; or
b
a fixed sum.
3
The amount of the periodical payment must not be less than any minimum amount determined by the scheme manager.