Election in respect of additional pension
This section has no associated Executive Note
14.—(1) An active member may choose to pay additional contributions in order to be credited with additional pension, in respect of the member alone or in respect of the member and any survivor, of £250 a year or multiples thereof to a maximum of £5000.
(2) If the member chooses to take the additional pension referred to in paragraph (1) earlier or later than the member’s normal retirement age, it is reduced or, as the case may be, increased.
(3) The amount of the additional contributions to be paid under paragraph (1), and the reduction or increase referred to in paragraph (2), is calculated in accordance with guidance issued by the scheme actuary.