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The Teachers' Superannuation (Additional Voluntary Contributions) Regulations 1994

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Variation and cancellation of elections

6.—(1) A contributor who has elected under regulation 4(1)(a) to pay regular contributions may at any time by giving written notice to the Secretary of State—

(a)subject to regulation 8(3), alter the amount of the regular contributions,

(b)require any contributions payable pursuant to the election to be invested in future under regulation 9 in a different way,

(c)require the Secretary of State to realise any investment and to reinvest the proceeds under regulation 9 in a different way, or

(d)cancel his election under regulation 4(1)(a).

(2) A contributor who has elected under regulation 4(1)(b) to pay a lump sum contribution may at any time by giving written notice to the Secretary of State require the Secretary of State to realise any investment and to reinvest the proceeds under regulation 9 in a different way.

(3) A contributor who has elected to pay regular contributions under regulation 4(1)(c) may at any time by giving written notice to the Secretary of State—

(a)subject to regulation 8(3), elect that a specified larger lump sum is to be secured and the regular contributions increased accordingly, or

(b)if the contributor has made an election under regulation 5(2), cancel it or alter in any specified way the manner in which the pension element is to be applied, or

(c)cancel his election under regulation 4(1)(c).

(4) A person paying further regular contributions pursuant to an election under regulation 5(4) may at any time make an election under regulation 5(2) or do anything authorised by paragraph (3).

(5) The Secretary of State shall give effect as soon as is reasonably practicable to the terms of any notice given under this regulation.

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