The Parliamentary Pensions (Amendment) Regulations 1995

Reduction in added years being purchased

6.—(1) In the case of a Member who is purchasing added years by paying periodical contributions, the Trustees shall calculate, in accordance with paragraph 8(5) of Schedule 6 to the principal Regulations, the maximum added years he may purchase by way of future contributions.

(2) For the purposes of the calculation under sub-paragraph (1), the Trustees shall—

(a) take as his accrued aggregate period of reckonable service as a participating Member the period calculated under paragraph 3; and

(b) disregard his future added years.

(3) If the number of future added years which the Member has contracted to purchase exceeds the maximum calculated under sub-paragraph (1), the number of future added years which he has contracted to purchase shall be reduced to that maximum.

(4) Subject to sub-paragraph (5), if a reduction in a Member’s future added years is made under sub-paragraph (3), the annual amount of any periodical contributions which (apart from the provisions of this paragraph) would be payable by him on or after the appointed date shall be reduced by the proportion (up to and including 100%) which the amount of the reduction bears to the number of future added years referred to in sub-paragraph (3).

(5) If the future added years referred to in paragraph (3) are being purchased by the Member under more than one application under the Parliamentary Pensions (Purchase of Added Years) Order 1978 or under the principal Regulations, a reduction under paragraph (3) shall be effected taking those applications in such order as the Trustees shall consider appropriate, having regard to any preferences expressed to them in writing by the Member.

(6) In this paragraph, “future added year” means, as at the appointed date, and after taking into account any relevant adjustment under regulation E2(1A)(a) or (b) of the principal Regulations, an added year in respect of which the Member’s application to purchase by paying periodical contributions has been accepted by the Trustees but which is not included in his accrued aggregate period of reckonable service as a participating Member.