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SCHEDULE 1N.I.Payments for extra pension

PART 2N.I.Payments for added pension

CHAPTER 2N.I.Periodical payments for added pension

Member's option to make periodical payments for added pensionN.I.

10.—(1) An 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 pensionable earnings in each pay period.

(2) The amount of the periodical payment may be expressed as—

(a)a percentage 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.