Rights to return of contributions
15. In regulation 87(4), for the words “to such period of membership as is appropriate in accordance with guidance issued by the Government Actuary” substitute—
“to a period of membership equal to the period of membership in the employment which has ceased, as reduced under regulation 11(4) if the employment which has ceased was part-time, multiplied by the fraction—
where the rate of pay in each case is the annual rate of pay on the last day of employment in the employment which has ceased.”.