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64.—(1) If a member who is paying AVCs leaves his employment with the employer who was his employing authority when he elected under regulation 59(1) to pay them and enters a new employment in which he is also a member, he may elect that that election should continue to have effect.
(2) However, he may only do so if he enters the new employment before the expiry of the period of one month and one day beginning with the date on which he left the former employment.
(3) The election must be made by notice given in writing to the member’s new employing authority before the expiry of the period of one month beginning with the date on which the new employment begins.
(4) The new employing authority must send the notice of election to the appropriate administering authority in relation to the new employment.
(5) The member may continue paying AVCs under his existing election with effect from his next pay day in his new employment after his election to continue.
(6) However, he may not pay any AVCs to cover any period falling between the employments.
(7) If the same authority are the member’s appropriate administering authority in both employments, they must continue to apply any AVCs to be used for death benefits towards the pension policy mentioned in regulation 62 and continue to invest all other AVCs paid by him as specified in regulation 63(1).
(8) If those authorities are different, the former authority must transfer to the new authority a sum equal to the accumulated value of the member’s additional contributions invested under regulation 63(1).
(9) They must also assign to the new authority their rights under any pension policy under regulation 62 in respect of him which are assignable.
(10) The new authority must apply and invest the sum received and payments of additional contributions as mentioned in paragraph (7).
(11) Regulation 63(2), this regulation and regulation 65 apply to changes in the new employment as if the election under regulation 59(1) had been given in that employment (and so on).
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