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29(1)A participating member may, by giving notice to the Fund trustees, choose to make lower rate scheme member contributions instead of higher rate scheme member contributions (or vice versa).
(2)Such a notice may be given only within 3 months of—
(a)being elected (or re-elected) as an MSP, or
(b)where the participating member is not an MSP, being appointed (or re-appointed) as the holder of a pensionable office.
(3)The notified change has effect from the day of the election or appointment and—
(a)the Fund trustees must pay the participating member an amount equal to any excess of scheme member contributions made in respect of that period, or (as the case may be)
(b)the participating member must pay any shortfall in scheme member contributions made in respect of that period to the Fund trustees.
(4)If a participating member fails to repay a shortfall, the Fund trustees may recover the shortfall by directing the person responsible for paying the participating member’s salary to adjust subsequent scheme member contributions accordingly.
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Text created by the Scottish Executive department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills
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