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PART 6 N.I.Retirement benefits

CHAPTER 3N.I.Partial retirement benefits

Partial retirement option noticeN.I.

61.—(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 62[F3, and

(c)if P holds more than one office, the office or offices in respect of which P is exercising the partial retirement option.]