PART 12Finance

Receipts etc. to be credited126

1

Employees' and employers' contributions received during the financial year are to be credited to the account.

2

Employees' contributions comprise—

a

all contributions payable under regulations 12(13)(c), 18, 19, Schedule 4, Schedule 5, under Schedules 4 and 5 of TPR 1997 and under paragraph 36 of Schedule 10 to TPR 1997,

b

the contributions referred to in regulation 28(3)(c),

c

so much of any additional contributions payable under regulation C9 of TPR 1997 as would have been payable under regulation 18 if pensionable employment had continued,

d

all amounts payable under regulation 25 and under regulations C16(5) to (7) and C17 of TPR 1997 (return of repaid contributions).

3

Employers' contributions comprise—

a

the contributions payable under regulation 27 and under regulation G6 of TPR 1997,

b

so much of any additional contributions payable under regulation C9 of TPR 1997 as would have been payable under regulation 27 if pensionable employment had continued.

4

There are also to be credited to the account—

a

the closing balance in the account for the preceding financial year,

b

all transfer values accepted during the financial year,

c

all contributions equivalent premiums refunded, or recovered under section 61 of PSA 1993, during the financial year,

d

any interest and other payments under these Regulations received during the financial year, and

e

the notional investment income for the financial year on the balance in the account.

5

For the purposes of paragraph (4)(e), the notional investment income for each financial year is to be determined by the scheme actuary and derived using a percentage return as specified from time to time by the Treasury.