PART 3AMENDMENT OF THE HEALTH AND SOCIAL CARE (PENSION SCHEME) REGULATIONS (NORTHERN IRELAND) 2008
Amendment of regulation 18660
1
Regulation 186 (Option for members in serious ill-health to exchange whole pension for lump sum) is amended as provided by paragraphs (2) to (5).
2
In paragraph (1) after “active member”, insert “or a non-contributing member”.
3
In paragraph (4) after “active member”, insert “or a non-contributing member”.
4
For paragraph (5) substitute—
5
A pension credit member who exercises the option is to be paid, as soon as reasonably practicable and before reaching the age of 75, an amount equal to the sum of—
a
the maximum lump sum (if any) to which the pension credit member could have become entitled on exercising the option under regulation 185 at the appropriate time; and
b
the total annual amount of the pension to which the pension credit member is entitled under regulation 177 after exercising that option, multiplied by 5.
5
In paragraph (6) after “active member”, insert “or a non-contributing member”.