62.—(1) If a pension credit member is suffering from serious ill-health before the member attains normal benefit age, the relevant police authority may commute the whole of the pension to which the member is entitled under regulation 61 for a lump sum of an amount equal to the annual rate of the pension to which the member would have been entitled under regulation 61(3)(a) if the member had attained normal benefit age on the date when the lump sum is paid (as calculated in accordance with guidance prepared by the Scheme actuary), multiplied by 5.
(2) Where a pension is commuted under paragraph (1), the payment of the lump sum discharges the relevant police authority from all liability in respect of benefits payable to or in respect of the pension credit member.
(3) In this regulation, “serious ill-health” means ill-health giving rise to a life expectancy of less than 1 year from the date on which commutation is applied for.