SCHEDULE 3Payments for added pension

PART 1General

Interpretation1

In this Schedule—

  • “added pension option” means the option to make payments for added pension;

  • “amount of accrued added pension” means the total of—

    1. a

      the amount of accrued added (self only) pension (if any); and

    2. b

      the amount of accrued added (all beneficiaries) pension (if any);

  • “appropriate pay period” means the pay period that the scheme manager considers appropriate;

  • “the compensation scheme” means the scheme contained in the determination made under regulation 14A of the 2003 Regulations (Annex DA) providing for payment of a compensation lump sum to a member of a police force on voluntary retirement;

  • “overall limit of added pension” has the meaning given in paragraph 2;

  • “periodical payment period” means the period for which periodical payments for added pension are payable;

  • “period of service”, in relation to this scheme, means a continuous period of pensionable service under this scheme;

  • “the relevant day”, in relation to a lump sum payment for added pension, means—

    1. a

      if the scheme manager provides a statement of the amount of added pension, the first day after the period of one month beginning with the date of the statement; or

    2. b

      otherwise, the day on which the lump sum payment is received by the scheme manager;

  • “the relevant scheme year” means the scheme year in which the relevant day falls; and

  • “statement of the amount of added pension” means the statement referred to in paragraph 16.