PART 5Pension accounts
CHAPTER 5Deferred member's account
Establishment of deferred member's account61
1
This regulation applies when an active member of this scheme becomes a deferred member of this scheme in relation to a continuous period of pensionable service.
2
The scheme manager must—
a
close the active member's account for that period of service; and
b
establish a pension account for the deferred member for that period of service.
3
For the purpose of these Regulations, an account established under paragraph (2)(b) is called a deferred member's account.