CHAPTER 2Making effective pension age payments
Amount of periodical payments
31.—(1) Periodical payments for an effective pension age are payable by deduction by the member’s employer from the member’s pensionable earnings in every pay period during the periodical payment period.
(2) The amount of the periodical payments is an amount—
(a)determined by the scheme manager; and
(b)set out in a notice to the member.
(3) The scheme manager must determine the amount by reference to published actuarial tables having regard to—
(a)the member’s age and gender; and
(b)the number of years before the member will reach normal pension age.
(4) Before the start of every scheme year, the scheme manager must—
(a)review the amount of the periodical payments; and
(b)if the scheme manager re-determines the amount, send the member notice of the amount payable from the start of the next scheme year.
Periodical payment period
32. The periodical payment period—
(a)begins with—
(i)if the member exercises the option within 3 months after joining this scheme, the first appropriate pay period beginning on or after the date on which the scheme manager receives the option notice; or
(ii)in any other case, the first appropriate pay period of the scheme year beginning on or after the date on which the scheme manager receives the option notice; and
(b)ends on the earlier of—
(i)the date on which the member ceases to be in pensionable service in the eligible employment to which the option relates; and
(ii)the date on which the member reaches the effective pension age.
Periodical payments during period of assumed pay
33.—(1) Subject to sub-paragraph (2), during a period of assumed pay the member may—
(a)stop the periodical payments; or
(b)continue the periodical payments as if the member were receiving pensionable earnings at the full rate.
(2) During any period in which the member is receiving statutory maternity pay within the meaning of the Social Security Contributions and Benefits (Northern Ireland) Act 1992(1) or is on paid ordinary maternity leave, paid adoption leave or paid paternity leave, the member may—
(a)stop the periodical payments; or
(b)make periodical payments of an amount determined by reference to the member’s actual pay during that period.
(3) If a member stops the periodical payments during a period of assumed pay, the member may, by notice to the scheme manager in a form required by the scheme manager, resume the periodical payments in the next pay period after the period of assumed pay ends.