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188. The entitlement day for repayment of the balance of contributions is one month after the last day of pensionable service.
189.—(1) A person (P) is entitled on the entitlement day to a repayment of the balance of contributions, calculated in accordance with regulation 191, if—
(a)P has left all pensionable service and does not re-enter pensionable service before the entitlement day;
(b)P has applied under regulation 190 for the repayment; and
(c)paragraph (2) does not apply.
(2) This paragraph applies if—
(a)P is qualified for retirement benefits;
(b)a transfer payment has been made in respect of P’s pensionable service; or
(c)P is in a period of post-benefit service immediately before the last day of pensionable service(1).
(3) For the purpose of this regulation, P is in pensionable service while P is absent on maternity leave, paternity leave, additional paternity leave, parental leave or adoption leave if P is entitled to return from leave by virtue of Part 8 of the Employment Rights Act 1996(2).
(4) If a repayment of the balance of contributions is made, P’s rights under this scheme are extinguished.
(5) This regulation is subject to regulation 183 (general prohibition on unauthorised payments).
190.—(1) A person (P) must apply in writing to the scheme manager for a repayment of the balance of contributions.
(2) P must satisfy a written request from the scheme manager to provide any information in the request.
(3) The information must be information—
(a)in P’s possession; or
(b)which P can reasonably be expected to obtain.
191.—(1) The balance of contributions is (A-B)-C, where—
A is the total of the amounts specified in paragraph (2);
B is the total of the deductions specified in paragraph (3); and
C is the amount of tax chargeable on (A-B) under section 205 of FA 2004.
(2) The amounts are—
(a)all members’ contributions, additional pension contributions, buy-out contributions and faster accrual contributions paid up to the date of receipt of the application for repayment, except any paid in respect of a period of pensionable service for which a short-service serious ill-health grant has been paid; and
(b)interest on those contributions from the first day of the financial year following that in which they were paid to the date of payment at 3% per year, compounded with yearly rests.
(3) The deductions are—
(a)the amount of any previous repayment under regulation 189; and
(b)if the scheme manager has paid a contributions equivalent premium, the amount recoverable by the scheme manager under sections 61 to 63 of PSA 1993.
See regulation 124 for P’s entitlement to a short-service annuity if P is not re-qualified for retirement benefits in respect of a period of post-benefit service.
1996 c.18; Part 8 was amended by the Employment Relations Act 1999 (c.26), Schedule 4, and the Employment Act 2002 (c.22), sections 1 and 3.
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