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PART 5 N.I.Pension accounts

CHAPTER 5N.I.Deferred member's account

Establishment of deferred member's accountN.I.

61.—(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.