The Parliamentary Pension Scheme (Additional Voluntary Contributions) (Amendment) Regulations 1999

• Citation: S.I. 1999/780
• Sections: 5

Section 1 Title and commencement

These Regulations may be cited as the Parliamentary Pension Scheme (Additional Voluntary Contributions) (Amendment) Regulations 1999 and shall come into force on 2nd April 1999.

Section 2 Interpretation

In these Regulations–

“the AVC Regulations ” means the Parliamentary Pension Scheme (Additional Voluntary Contributions) Regulations 1993 ;

and other expressions shall have the same meaning as in the AVC Regulations.

Section 3 Class A contributor

For the definition of “Class A contributor” in regulation 2(1) of the AVC Regulations, there shall be substituted–

“Class A contributor” means any contributor who joined the principal scheme on or after 1st June 1989 or any other contributor who has elected to become a Class A contributor (however termed) by giving notice in writing to the Trustees.

Section 4 Contributions

For regulation 5(2)(a) of the AVC Regulations, there shall be substituted–

(a) such amount determined by the Trustees on a basis acceptable to the Board of Inland Revenue as is likely to provide benefits equal to the limits set out in regulation 11;

Section 5 Surplus monies

For regulation 12 of the AVC Regulations, there shall be substituted–

(12) The Trustees shall comply with the requirements of regulation 5 (restriction on discretion to approve other schemes) of the Retirement Benefits Schemes (Restriction on Discretion to Approve) (Additional Voluntary Contributions) Regulations 1993 and, where the AVC scheme is the leading scheme in relation to a contributor, with the requirements of regulation 6 (calculation of surplus funds) of those Regulations so far as they concern main schemes.