PART 4Pension accounts
CHAPTER 7Deferred member’s account
Establishment of deferred member’s account53.
(1)
This regulation applies when an active member of this scheme becomes a deferred member of this scheme.
(2)
The scheme manager must—
(a)
close the active member’s account for that period of service; and
(b)
establish a pension account for the deferred member for that period of service.
(3)
For the purpose of these Regulations, an account established under paragraph (2)(b) is called a deferred member’s account.