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SCHEDULE 2Scheme flexibilities

PART 2Additional pension election

CHAPTER 1Making an additional pension election

Making an additional pension election

9.—(1) An additional pension election in relation to a member (P)—

(a)must be made by written notice to the scheme manager; and

(b)must be accompanied by a declaration by P that P is in normal health.

(2) When the election is made, P must be—

(a)in pensionable service; and

(b)under normal pension age.

(3) The notice must state whether additional pension contributions are to be paid—

(a)as a lump sum; or

(b)by monthly payments.

(4) If monthly payments are to be made, the notice must—

(a)state the number of monthly payments, which must not be more than 240; and

(b)if P is in pensionable service in relation to more than one employment, specify which employer is to deduct the contributions.

(5) The scheme manager may request further information to be provided.