PART O

Voluntary scheme pays arrangementO1

1

A member of a police force may serve notice on the police pension authority requesting the authority to discharge that member’s liability to an annual allowance charge where the conditions in paragraph (2) are satisfied.

2

The conditions mentioned in paragraph (1) are that—

a

the police pension authority is not jointly liable under section 237B of the Finance Act 2004 (liability of scheme administrator)9 in relation to the charge;

b

the pension scheme input amount for a tax year for the member in relation to all police pension schemes of which the individual is a member, exceeds the annual allowance applicable to that member for that tax year; and

c

the amount of the member’s liability to an annual allowance charge for a tax year exceeds £1,000.

3

The police pension authority may fix a date in relation to any tax year by which a notice under paragraph (1) must be given.

4

Where the police pension authority discharges a liability under paragraph (1), consequential adjustment must be made to the member’s entitlement to benefits under this scheme on a basis that is just and reasonable having regard to normal actuarial practice.

5

In this rule—

• “annual allowance” has the meaning given in section 228 (annual allowance) of the Finance Act 2004;

• “annual allowance charge” has the meaning given in section 227 (annual allowance charge) of the Finance Act 2004;

• “pension scheme input” has the meaning given in section 237B(2) of the Finance Act 2004;

• “tax year” means a period of one year which is the period of assessment for income tax purposes; and

• “police pension schemes” means this scheme, the pension scheme set out in the Police Pensions Regulations 2006 or the scheme set out in the Police Pensions Regulations 2015.