- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
9. After regulation M13 (commutation: small pensions)(1), insert—
M13A.—(1) The police authority may commute the pension to which a pension credit member is entitled under regulation M11 for a lump sum in accordance with this regulation.
(2) If the pension credit member is suffering from serious ill-health before normal benefit age—
(a)the whole of the pension may be commuted, and
(b)the lump sum under paragraph (1) is an amount equal to the annual rate of the pension as at the time when it first becomes payable, multiplied by 5.
(3) If the aggregate of total benefits payable to the member, including those attributable (directly or indirectly) to pension credit rights, does not exceed £260 each year at normal benefit age—
(a)the whole of the pension may be commuted when the pension credit member attains the normal benefit age or when the pension sharing order takes effect if that is later, and
(b)the lump sum under paragraph (1) is the actuarial equivalent of the commuted pension, calculated from tables prepared by the scheme actuary.
(4) Where a pension is commuted under this regulation, the payment of the lump sum discharges the police authority from all liability in respect of benefits payable to or in respect of the pension credit member.
(5) In this regulation, “serious ill-health” means ill-health giving rise to a life expectancy of less than one year.”.
Regulation M13 was inserted by S.S.I. 2001/459.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Policy Note sets out a brief statement of the purpose of a Scottish Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Scottish Statutory Instrument accessible to readers who are not legally qualified and accompany any Scottish Statutory Instrument or Draft Scottish Statutory Instrument laid before the Scottish Parliament from July 2012 onwards. Prior to this date these type of notes existed as ‘Executive Notes’ and accompanied Scottish Statutory Instruments from July 2005 until July 2012.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: