PART 5Members’ benefits
CHAPTER 4Partial retirement
Effect of election84
1
This regulation applies if a member (M) makes an election under regulation 83.
2
M is entitled—
a
if M has reached normal pension age, to immediate payment of the specified percentage of the pension to which M would be entitled by virtue of regulation 72(1) if M had ceased to be employed in one or more employments on the election day;
b
if M has not reached normal pension age, to immediate payment of the specified percentage of the pension to which M would be entitled by virtue of regulation 78 if M had ceased to be employed in one or more employments on the election day; and
c
if the election specifies that M claims immediate payment of additional pension, to the additional pension subject—
i
where sub-paragraph (a) applies, to an increase of the same amount as would be made in that pension pursuant to paragraph 2 of Schedule 11 if M had ceased to be employed on the election day; and
ii
where sub-paragraph (b) applies, to a reduction of the same amount as would have been made in that pension pursuant to regulation 78 if M had so ceased to be employed.
3
For the purposes of this Part—
a
M is a pensioner member as respects—
i
the pension to which M is immediately entitled as a result of making the election; and
ii
the specified percentage of the pensionable service that pension represents, as respects which M is an active member on the election day;
b
if M continues in pensionable service after the election day, M is an active member as respects—
i
the pensionable service after that day in which M continues; and
ii
so much of the pensionable service in respect of which M is an active member as is not within sub-paragraph (a) (the unspecified service); and
c
if M does not continue in pensionable service after the election day, M is a deferred member as respects the unspecified service.