2.—(1) The Occupational Pension Schemes (Contracting-out) (Amount Required for Restoring State Scheme Rights and Miscellaneous Amendment) Regulations 1998(1) (“the 1998 Regulations”) are amended as follows.
(2) For regulation 3(2)(a) (method of calculation where no election to pay a contributions equivalent premium may be made) substitute—
“(a)the amount of each factor shall be—
(i)for Factors A to F2, the amount derived from the relevant Table in Schedule 1, being the amount shown for the factor in the column below the relevant tax year, in relation to the tax year in which the member was born, as specified in the first column of that Table;
(ii)for Factors G to Q, the amount shown in the column below the relevant factor, in whichever of Tables 11 and 12 in Schedule 1 is applicable, in relation to the age attained by the member in the relevant tax year as specified in the first column of that Table.”.
(3) For Tables 1 to 4 in Schedule 1(2) substitute the tables set out in the Schedule to these Regulations.
(4) In the headings to the tables in Schedule 1, for “Table 5” substitute “Table 11” and for “Table 6” substitute “Table 12”.
S.I.1998/1397; the relevant amending instruments are S.I. 2005/891 and 3164, and S.I.2007/366. Seealso section 1(2) of, and Schedule 2 to, the Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c.2) (which transferred to the Commissioners of Inland Revenue the functions of the Secretary of State under those Regulations).
The tables in Schedule 1 were substituted by regulation 2(2) of, and Schedule 1 to, S.I.2007/366 where the effective date is on or after 6th April 2007.