Part VI Further Requirements for Protection of Scheme Members
107 Voluntary contributions.
1
Except in such cases as may be prescribed, and except so far as is necessary to ensure that an occupational pension scheme or a personal pension scheme has, or may be expected to qualify for, tax-exemption or tax-approval, the rules of the scheme—
a
must not prohibit, or allow any person to prohibit, the payment by a member of voluntary contributions;
b
must not impose, or allow any person to impose, any upper or lower limit on the payment by a member of voluntary contributions;
c
must secure that any voluntary contributions paid by a member are to be used by the trustees or managers of the scheme to provide additional benefits for or in respect of him; and
d
must secure that the value of the additional benefits is reasonable, having regard—
i
to the amount of the voluntary contributions; and
ii
to the value of the other benefits under the scheme.
2
The requirements specified in this section are in this Act referred to as “the voluntary contributions requirements”.
3
This section does not apply in relation to any pension payable under—
a
Part II of the M1Judicial Pensions Act (Northern Ireland) 1951;
b
Part XIII of the M2County Courts Act (Northern Ireland) 1959;
c
the M3Resident Magistrates’ Pensions Act (Northern Ireland) 1960;
d
section 2 of the M4Superannuation (Miscellaneous Provisions) Act (Northern Ireland) 1969;
e
the M5Judicial Pensions Act 1981; or
f
the M6Judicial Pensions and Retirement Act 1993;
and accordingly none of the provisions of this Act shall, in so far as it has effect in relation to the voluntary contributions requirements, apply to any such pension.