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The Occupational Pension Schemes (Power to Amend Schemes to Reflect Abolition of Contracting-out) Regulations 2015

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Total annual employee contributions of the relevant members

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4.—(1) For the purposes of paragraph 2(3)(a) of Schedule 14 to the Act (what can the power be used to do?), the “total annual employee contributions of the relevant members” means the total annual amount of employee contributions for the relevant members calculated using the employee contribution rates shown in the schedule of contributions adopted in relation to the scheme for the purposes of Part 3 of the 2004 Act (scheme funding) as at the calculation date.

(2) The actuary is to calculate the increase, due to the proposed amendments, in the total annual employee contributions of the relevant members–

(a)estimated to be payable over the period of one year beginning with the calculation date;

(b)using the earnings data specified in regulation 7; and

(c)in accordance with the requirements in regulation 8.

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