Amendment of regulation 2.E.19
44.—(1) Regulation 2.E.19 (amount of lump sum: dual capacity members: members with pensions under regulation 2.D.5) shall be amended as follows.
(2) At the end of paragraph (2) insert as full out words “, in the case of a 2008 Section Optant this is subject to regulation 2.K.23 (lump sum payable on the death of a 2008 Section Optant who is in receipt of a lower tier ill health pension under regulation E2A of the 1995 Regulations).”.
(3) For paragraph (4) substitute—
“(4) The aggregate lump sum cap is equal to twice the appropriate fraction of the reckonable pay by reference to which the pension to which the member became entitled on last exercising the option under regulation 2.D.5 was calculated, less the total of any lump sums paid to the member—
(a)in exchange for pensions under regulations 2.D.5 (partial retirement (members aged at least 55)) as a result of the member exercising the option under regulation 2.D.14 (general option to exchange part of pension for lump sum); and
(b)in the case of a 2008 Section Optant, the lump sum paid to that Optant under regulation 2.K.12.”.