Determination of contribution payable
60.—(1) The scheme manager must determine the amount to be paid as a lump sum or as a periodic payment.
(2) The amount of the lump sum or periodic payment must be—
(a)not less than the minimum amount; or
(b)an amount which is a multiple of the minimum amount.
(3) In paragraph (2), the minimum amount is the amount that would, in accordance with tables prepared by the scheme actuary for the scheme year in which the contributions are paid, be the amount of contribution required to secure the additional pension specified under regulation 56.
(4) The tables mentioned in paragraph (3)—
(a)may specify different amounts for different descriptions of members; and
(b)may be amended during a scheme year.
(5) An amendment under paragraph (4)(b) has effect—
(a)at the start of the next scheme year; or
(b)such later date as the scheme manager specifies.