PART 4 Pension accounts

CHAPTER 7 Deferred member’s account

53 Establishment of deferred member’s account
1 This regulation applies when an active member of this scheme becomes a deferred member of this scheme.
2 The scheme manager must—
(a) close the active member’s account for that period of service; and
(b) establish a pension account for the deferred member for that period of service.
3 For the purpose of these Regulations, an account established under paragraph (2)(b) is called a deferred member’s account.