PART 6Retirement benefits
CHAPTER 3Partial retirement benefits
Partial retirement option notice61
1
A partial retirement option may only be exercised—
a
by notice to the scheme manager in a form required by the scheme manager (“option notice”); and
b
in the 3 months after P's pensionable earnings are reduced, on a date agreed by the member and the scheme manager.
2
An option notice must specify—
a
whether P claims payment of—
i
the whole of P's accrued pensions F1to which the office relates ; or
ii
part only of P's accrued pensions F2to which the office relates ; and
b
if P claims payment of part only—
i
the descriptions of accrued pension for which payment is claimed; and
ii
the proportion of each description of accrued pension for which payment is claimed (“option proportion”), which must comply with regulation 62F3, and
c
if P holds more than one office, the office or offices in respect of which P is exercising the partial retirement option.