The Local Government Superannuation (Miscellaneous Provisions) Regulations 1995

Additional voluntary contributions

5.  Schedule 6A to the principal Regulations shall be amended—

(a) in paragraph 4(2), by substituting for the words “paragraph 6” the words “paragraphs 6, 6A and 6B”;

(b) in paragraph 6(2)(e), by substituting for the words “and 6” the words “,6, 6A and 6B”; and

(c) by inserting after paragraph 6 the following—

“6A.— (1) Where a person who has given notice under paragraph 1(1) of an election under regulation C9A to his employing authority—

(a) has ceased to be employed by that authority; or

(b) has ceased to be a pensionable employee by virtue of a notification under regulation B1B,

he may elect to have the accumulated value of the invested additional contributions, mentioned in paragraph 4(1), used—

(i) in the case mentioned in paragraph (a), in one of more of the ways mentioned in paragraph (2); and

(ii) in the case mentioned in paragraph (b), in one or both of the ways mentioned in paragraphs (b) and (e) of sub-paragraph (2).

(2) The ways referred to in sub-paragraph (1) are—

(a) to subscribe to a superannuation scheme;

(b) to subscribe to a personal pension scheme;

(c) to subscribe to a self-employed pension arrangement;

(d) to purchase an appropriate policy from one or more insurance companies; or

(e) to subscribe to an additional voluntary contributions scheme.

6B.   Where a person receives a refund under regulation C12 as a consequence of ceasing—

(a) to be employed by a scheduled body; or

(b) to be a pensionable employee by virtue of a notification under regulation B1B,

he must receive immediate payment of the accumulated value of the additional contributions mentioned in paragraph 4(1).”