Automatic Enrolment Retirement Savings System Act 2024

Suspension of contributions

62. (1) A participant may suspend contributions in accordance with this section.

(2) A period of suspension may begin at any time that is—

(a) not less than 6 months after the enrolment date or any re-enrolment date of the participant, and

(b) not less than 6 months after the end of any earlier period of suspension.

(3) A period of suspension ends:

(a) on any date notified by the participant to the Authority;

(b) if no date is notified under paragraph (a), at the end of the period of 2 years beginning with the start of the period.

(4) A date notified under subsection (3)(a) shall be not less than one year and not more than 2 years after the start of the period of suspension.

(5) The Authority may specify, and publish on a website maintained by or on behalf of the Authority, the procedure for suspending contributions or ending a period of suspension, including requirements as to—

(a) the form and content of a notice from a participant to suspend contributions or end a period of suspension, and

(b) the period within which the notice shall be given.