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SCHEDULE 7Pension accounts

PART 5Additional pension account

Establishment of additional pension account

22.—(1) An additional pension account must be established for each active member in respect of whom an additional pension election is made.

(2) If the member is an active member in relation to more than one employment, only one additional pension account is to be established.

(3) The additional pension account must remain open until—

(a)an additional pension is paid in respect of the member;

(b)a transfer payment is made in respect of the member’s rights to the accrued additional pension; or

(c)all additional pension contributions are refunded under regulation 62 or 66.

(4) The additional pension account must record separately the amount referable to each election made by a member under regulation 54(3)(b) (self and survivor).