SCHEDULE 5 PURCHASE OF ADDED YEARS

4 Purchase of added years by periodical contributions
Where an application by a participating member to purchase added years by periodical contributions is accepted by the Parliamentary corporation–
(a) those periodical contributions shall, subject to the provisions of paragraph 5, be payable–
(i) in the case of an application under paragraph 2(1), from the date of the participating member’s birthday next following the receipt by the Parliamentary corporation of his application and until the participating member attains the age of 65; and
(ii) in the case of an application under paragraph 2(2), for whichever of the periods of four or five years the participating member has chosen for the payment of periodical contributions beginning on such date not later than two months from the date of acceptance of the application as the Parliamentary corporation shall specify by notice in writing to the participating member;
(b) periodical contributions by a participating member for the added years shall be payable by deductions from his salary or, in the case of arrears, in such manner as the Parliamentary corporation may require; and
(c) the periodical contributions payable by a participating member for the added years shall be calculated in accordance with tables prepared from time to time by the Government Actuary.