CHAPTER 3Additional pension contributions paid by lump sum
Lump sum contributions: payment of contributions and credit of additional pension
12.—(1) This paragraph applies to a member (P)—
(a)in respect of whom an additional pension election is accepted; and
(b)whose notice of election states that contributions are to be paid by lump sum.
(2) P’s additional pension account is to be credited with an amount equal to the annual rate of additional (self only) pension stated in the notice of election (“the amount of additional pension”) if the lump sum contribution is paid within one month after the additional pension election is accepted.
(3) P’s additional pension account is not to be credited with the amount of additional pension unless the lump sum contribution is paid within that time.
Refund of lump sum contribution
13.—(1) This paragraph applies if a member (P) has paid a lump sum contribution for additional pension.
(2) The lump sum contribution must be refunded if, before the end of the refund period—
(a)P dies;
(b)an ill-health pension becomes payable to P; or
(c)P leaves all pensionable service and P is neither qualified nor re-qualified for retirement benefits in respect of that service.