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Local Government Pension Scheme Regulations (Northern Ireland) 2002

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Elections as to use of accumulated value of AVCs

68.—(1) Subject to paragraph (8), this regulation applies where a person –

(a)leaves his employment with the employer who was his employing authority when he made an election under regulation 62(1) or (11) without entitlement to the immediate payment of retirement benefits;

(b)stops being an active member without leaving that employment;

(c)leaves his employment with the employer who was his employing authority when he made an election under regulation 62(1) or (11) with entitlement to the immediate payment of retirement benefits –

(i)under regulation 26 (normal retirement) or 28 (redundancy etc); or

(ii)by virtue of an election under regulation 33 (early payment); or

(d)becomes entitled to an ill-health pension under regulation 29.

(2) Subject to paragraph (7), a person must elect to have the accumulated value used –

(a)where paragraph (1)(a) applies to him, in one or more of the permissible ways; and

(b)where paragraph (1)(b) applies to him, in the way mentioned in paragraph (3)(b).

(3) The permissible ways are –

(a)to subscribe to an occupational pension scheme (other than the Scheme);

(b)to subscribe to a personal pension scheme (including an additional voluntary contributions scheme, other than an FSAVC scheme);

(c)to subscribe to a self-employed pension arrangement;

(d)to purchase an appropriate policy from one or more AVC insurers.

(4) Where paragraph (1)(c) or (d) applies to a person, he may elect for the accumulated value to be used to provide additional pension for him under the Scheme, or partly to provide such pension for him.

(5) Where a member makes an election under paragraph (4), he becomes entitled to such additional pension as is shown as appropriate in guidance issued by the Government Actuary.

(6) The accumulated value may not be used to provide an additional lump sum benefit to the member unless it arises out of contributions made under any voluntary contributions scheme where the payments began before 8th April 1987.

(7) Where a person who has stopped being employed by an employing authority or being a member receives –

(a)an ill-health grant under regulation 29(2);

(b)a repayment of contributions under regulation 88; or

(c)a payment under regulation 89(2),

he must immediately be paid the accumulated value.

(8) A person who made an election under regulation C24(1) of the 2000 Regulations prior to the commencement date shall continue to have the rights to make elections as to the use of the accumulated value as under the provisions of those Regulations as in operation prior to that date and accordingly, so far as is necessary to give effect to those rights and to make provision for any matters incidental to them, those provisions shall be treated as if they had continued in effect.

(9) In this regulation, “the accumulated value” means the accumulated value of the additional contributions invested under regulation 66(1).

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