SCHEDULE 5 Payment to Avoid Reduction of Retiring Allowance

PART IV UNCOMPLETED PAYMENTS
14 (1) Where the relevant event is the employee’s ceasing to hold his employment and—
(a) condition (a) or (b) in regulation E2(3) is satisfied; and
(b) the last day of his employment is not less than 12 months after the date of receipt of his notice of election under regulation C9; and
(c) he gives notice in writing for the purpose to the Committee within the period of 3 months beginning on the day after the last day of his employment,
he may pay to the fund within the period specified in sub-paragraph (2) an amount calculated by the fund’s actuary to represent the capital value of the instalments or additional contributions remaining to be paid, and shall in that event be treated as having completed payment in accordance with Part II or, as the case may be, Part III.
(2) The period for making a payment under sub-paragraph (1) is the period of one month beginning on the date on which the person is notified by the Committee of the amount calculated as mentioned in that sub-paragraph.
(3) The Committee may accept a notice given under sub-paragraph (1)(c) notwithstanding that sub-paragraph (1)(b) is not satisfied.