PART 9Contributions
CHAPTER 2Employees’ contributions
Contributions for standard earned pension179
1
In each pay period an active member (P) must pay contributions for standard earned pension (“standard contributions”) at a rate determined in accordance with regulations (“standard contributions rate”).
2
The standard contributions rate is a percentage of P’s pensionable earnings for a pay period.
Contributions under Schedule 2180
Schedule 2 has effect for the purpose of enabling—
a
payment of additional pension contributions by lump sum; and
b
monthly payments of—
i
faster accrual contributions;
ii
additional pension contributions; and
iii
buy-out contributions.
Contributions payable during a period of permanent service in the armed forces181
1
This regulation applies if—
a
an election under regulation 25 has effect in respect of a period of permanent service; and
b
the member (P) pays contributions by monthly payments.
2
Unless paragraph (3) applies, the amount of P’s contributions in respect of any pay period that falls within the period of permanent service is the total of—
a
the amount of standard contributions payable in respect of P’s notional salary; and
b
any contributions under Schedule 2 payable monthly.
3
This paragraph applies if during the period of permanent service P’s permanent service pay, when aggregated with any payments under Part 5 of the Reserve and Auxiliary Forces (Protection of Civil Interests) Act 195132 (“aggregated pay”), is less than the amount of P’s notional salary for that period.
4
If paragraph (3) applies—
a
the amount of P’s aggregated pay in a pay period is taken to be the amount of P’s pensionable earnings for that period; and
b
P’s contributions in that period are payable at the standard contributions rate.