Lump sum payable on the death of a Waiting Period Joiner
3.L.4.—(1) This regulation applies to a Waiting Period Joiner who, on the date of that Joiner’s death, is an active or a non-contributing member in respect of service in this Section of the scheme (“the later 2008 Section service”).
(2) The lump sum payable on the death of a Waiting Period Joiner referred to in paragraph (1) must be calculated in accordance with whichever of paragraphs (3) to (6) applies to the Joiner, and must be paid in place of the lump sum that, apart from this regulation, would otherwise be payable in respect of the Joiner’s later 2008 Section service under regulation 3.E.17 (amount of lump sum: single capacity members and recent leavers).
(3) Where, at the date of the Waiting Period Joiner’s death, the Joiner was an active member who had not reached age 65 and who had not exercised the option under regulation 3.D.5 (partial retirement: members aged at least 55), the lump sum referred to in paragraph (2) is an amount equal to the annual rate of pension payable under regulation 3.D.7(5) (early retirement on ill health) to which the deceased Joiner would have been entitled at that date, multiplied by 5.
(4) Where, at the date of the Waiting Period Joiner’s death, the Joiner was an active member who had reached age 65 and who had not exercised the option under regulation 3.D.5, the lump sum referred to in paragraph (2) is an amount equal to the annual rate of pension payable under regulation 3.D.1 (normal retirement pensions) to which the deceased Joiner would have been entitled at that date, multiplied by 5.
(5) Where, at the date of the Waiting Period Joiner’s death, the Joiner was a non-contributing member who had not exercised the option under regulation 3.D.5, the lump sum referred to in paragraph (2) is an amount equal to the annual rate of pension to which the Joiner would have been entitled under regulation 3.D.1 on the last day of the Joiner’s pensionable service, multiplied by 5.
(6) Where, at the date of the Waiting Period Joiner’s death, the Joiner was an active member or a non-contributing member who had exercised the option under regulation 3.D.5, the lump sum referred to in paragraph (2) must be determined by the Scottish Ministers after taking advice from the scheme actuary.