PART 2BENEFITS FOR OFFICERS
CHAPTER 3CONTRIBUTIONS
Additional contributions to purchase additional pensions
Effect of payment of additional contributions under this Chapter40
1
This regulation applies if—
a
an option is exercised by a member under regulation 34 and all the contributions to be made under the option are made,
b
an option is exercised by a member under regulation 36 or by a member’s employing authority under regulation 37 and the lump sum payment is made.
2
Subject to paragraph (9), the member’s pension is increased by the full amount of the increase to be made in accordance with the terms of the option, after the final adjustment in that amount in accordance with regulation 43(revaluation of increases bought under options: members' pensions).
3
Paragraph (2) is without prejudice to any increase or reduction falling to be made in the total amount of the member’s pension under Chapter 4 (members' retirement benefits) as a result of the member becoming entitled to payment of the pension before or after reaching the age of 65 (see regulations 47 to 49).
4
In the case of an option under regulation 34(1)(b), 36(1)(b) or 37(1)(b), any pension payable under Chapter 5 (death benefits) in respect of the member is increased by the appropriate amount.
5
In paragraph (4), subject to regulations 41 and 42(3), “the appropriate amount” means—
a
in the case of a pension under regulation 67 the amount of which is determined under regulation 69 (active members) or regulation 71 (deferred members), 37.5% of the amount of the increase mentioned in paragraph (2) that would have applied in the member’s case if the member had become entitled to the increase on the date of death (disregarding paragraph (3)),
b
in the case of a pension under regulation 67 the amount of which is determined under regulation 70 (pensioner members), 37.5% of the amount of the increase in the member’s pension as a result of the option,
c
in the case of a pension under regulation 74 the amount of which is determined under regulation 76 (active members) or regulation 78 (deferred members), the appropriate fraction (within the meaning of regulation 76 or, as the case may be, regulation 78) of 75% of the amount of the increase mentioned in paragraph (2) that would have applied in the member’s case if the member had become entitled to the increase on the date of death (disregarding paragraph (3)), and
d
in the case of a pension under regulation 74 the amount of which is determined under regulation 77 (pensioner members), the appropriate fraction (within the meaning of that regulation) of 75% of the amount of the increase in the member’s pension as a result of the option.
6
Except as provided in regulation 49, no separate claim is required as respects any additional pension payable by virtue of this regulation.
7
This regulation is subject to regulation 41.
8
For the effect of the options under regulation 34 where this regulation does not apply, see regulation 42 (effect of part payment of periodical contributions).
9
Paragraph (10) applies only to an option under regulations 34(1)(a), 36(1)(a) or 37(1)(a), where a pension is to be paid for either three or six months at the same rate as the member’s pension was being paid at the date of that member’s death.
10
Any increase to the member’s pension shall be included only in a benefit payable to a surviving partner or a dependent child in respect of the member under these Regulations whilst it is being paid at the rate and for the duration of one of the periods referred to in paragraph (9).