(This note is not part of the Regulations)
These Regulations make provision for the payment of additional voluntary contributions by persons who are members of the pension scheme constituted by the National Health Service Pension Scheme Regulations 1995 (“the NHS Pension Scheme”), or by their employers, in order to secure additional benefits financed by investment of those contributions. Regulations 1 to 10, 11(1) to (5), (7) and (8), 12 to 18 and 21 take effect from 1st February 1991. Regulation 11(6) takes effect from 1st December 1999. Section 12(1) of the Superannuation Act 1972 confers power to make Regulations having effect from a date earlier than the date of their making.
Regulations 1 and 2 provide for citation, commencement and interpretation.
Regulation 3 provides for elections to pay periodical contributions in order to secure additional retirement and dependants' pensions and a lump sum death benefit in the event of death while paying such contributions and contains general provisions as to the making and acceptance of elections.
Regulation 4 deals with the payment of contributions and imposes a limit on their total amount.
Regulation 5 allows elections made under regulation 3 to be varied or cancelled, and regulation 6 prescribes the circumstances under which an election ceases to have effect.
Regulation 7 makes provision in relation to the investment of contributions by the Secretary of State.
Regulation 8 makes provision relating to the acceptance of a transfer value from another scheme.
Regulation 9 makes special provision regarding the acceptance of a transfer value from a personal pension scheme in the case of persons who have opted out of the NHS Pension Scheme and suffered a loss as the result of a contravention which is actionable under section 62 of the Financial Services Act 1986 (mis-sold personal pensions).
Regulation 10 makes provision regarding payment of a transfer value (representing the value of the investments) to another scheme.
Regulation 11 makes provision for the payment of retirement and dependant’s pensions and for the making of elections relating thereto, and regulation 12 provides for the payment of lump sum death benefits.
Regulation 13 and the Schedule impose limits on benefits payable under the Regulations.
Regulation 14 provides for the realisable value of investments to be repaid where contributions under the National Health Service Pension Scheme Regulations 1995 are repaid.
Regulation 15 makes provision in relation to the circumstances in which the Secretary of State will make any payments of benefits that an authorised provider fails to make. It also makes provision as to the persons to whom certain payments are to be made and as to the deduction of income tax.
Regulation 16 provides for the Secretary of State to be given information needed for the purposes of his functions under the Regulations.
Regulation 17 provides for any payments, up to a prescribed maximum (currently £5,000), payable to the personal representatives of deceased persons, to be made without proof of title.
Regulation 18 provides that on bankruptcy, benefits under the Regulations may only be assigned to a person’s trustee in bankruptcy if the court makes an order to that effect.
Regulation 19 provides for the offsetting of any benefits arising from the employer’s contributions in circumstances of crime, negligence or fraud, and regulation 20 provides for the forfeiture of rights to any benefits arising from the employer’s contributions in certain circumstances.
Regulation 21 provides for the determination of questions by the Secretary of State.
These Regulations do not impose any costs on business.