SECTION 7: THE UNITED KINGDOM ATOMIC ENERGY AUTHORITY
and ASSOCIATED EMPLOYERS VOLUNTARY CONTRIBUTION SCHEME
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Part 3 – Contributions
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The contributions, required to constitute and maintain the
Fund, shall be provided by the Members and by the Employers in accordance
with the provisions hereinafter contained, that is to say:-
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(a) |
MEMBER’S CONTRIBUTIONS.
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Each Member shall, on each date on which he receives a payment
of earnings from the Employers while he remains in Pensionable Service,
subject to Revenue Limitations, pay a contribution to the Fund at the percentage
of basic salary or of the fixed amount the Member shall have notified to
the Employer on or prior to the date on which he becomes a Member provided
that
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(i) |
where contributions are payable as a percentage of basic salary,
the amount shall be expressed as a multiple of 0.5% or any multiple thereof;
and where the contributions are of a fixed amount, the amount shall be a
multiple of £5 per month; and shall in either case be subject to a minimum
contribution of £20 per month
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(ii) |
subject to the Member giving the Authority and the Employers
such prior notice as may require in this regard, a Member may elect to pay
a single contribution to the Fund, subject to a minimum of £200; and
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(iii) |
a Member’s contributions shall not be payable after whichever
is the earlier of
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(a) |
the cessation of his Service in Great Britain or Northern
Ireland, unless the Employers and the Authority otherwise determine; and
then subject to such restrictive modifications of the Scheme as they shall
determine and notify to him
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(b) |
the date from which his liability to make contributions to
the Principal Scheme terminates
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(c) |
the date on which the Employer in whose Service the Member
is, ceases to be included in the Scheme; or the earlier date on which the
Scheme is wound-up in accordance in either case with the provisions of Rule
37
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(d) |
the date from which he notifies the Employers that he no longer
desires to pay contributions to the Scheme; such date having been agreed
between the Member and the Employers.
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Any variation to the amount payable under sub-rules A(I) and
(ii) above shall only have effect following receipt by the Employers of
a notification to that effect, given by the Member.
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The Member’s contributions shall be paid by the Employers
to the Authority, or as they shall direct, at such intervals as may be required
by the Authority. Until the Member’s contributions are actually received
by the Authority, or by other persons on behalf of the Authority, they shall
remain the property of the Member by whom they were paid.
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Following receipt of the contributions by the Authority, they
shall be applied in respect of the Member; firstly, to provide the assurance
of the Life Assurance Benefit (if any) appropriate to the Member; and secondly,
the balance to the Member’s Account after the deduction of such amount as
the Authority shall determine and notify to the Member in writing, having
regard to all costs, charges and expenses of or incidental to the administration
and management of the Member’s Account.
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(b) |
EMPLOYERS’ CONTRIBUTIONS.
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The Employers shall in each Scheme Year pay periodic contributions
to the Fund to meet such expenses of administering and managing the Scheme
as the Authority shall determine.
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The Employers’ contributions shall be paid by the Employers
to the Authority, or as they shall direct, at such intervals as may be required
by the Authority.
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(c) |
RETURN OF SURPLUS CONTRIBUTIONS.
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If on or after the 1st day of April 1988 any part
of the Member’s contributions paid, together with any investment return
thereon, cannot, because of Revenue Limitations be used to provide benefit
for or in respect of the Member or his Dependants, such part shall be returned
subject to the provisions of Part III of Schedule 6 of the Finance Act 1989
concerning the return of surplus funds.
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