Payment of contributions
This section has no associated Policy Notes
26.—(1) A member (P)—
(a)must make the first monthly payment within 2 months after the end of the month in which the faster accrual election is accepted; and
(b)must continue to make the monthly payments until the end of the contributions payment period.
(2) The final monthly payment is due in the last month of the financial year to which the faster accrual election relates.
(3) P is taken to revoke a faster accrual election if—
(a)a monthly payment is missed; and
(b)the payment is not made within 3 months after P receives a written demand from the scheme manager.