PART 6Retirement benefits
CHAPTER 3Partial retirement benefits
Option proportionI166
1
A partial retirement option which relates to a description of accrued added pension must relate to all of the descriptions of P’s accrued added pension.
2
If P claims payment of accrued standard earned pension P must also claim payment of any of P’s accrued added pension.
3
If P claims payment of P’s accrued added pension P must also claim payment of any accrued standard earned pension.
4
If P claims payment of part only of P’s accrued pensions, the following are the option proportions of each description of accrued pension which can be claimed—
a
100% of each of the descriptions of P’s accrued pensions for which payment is claimed;
b
an option proportion lower than 100% for one description of accrued pension claimed and 100% for each of the other descriptions of P’s accrued pension claimed.
5
For the purposes of paragraph (4)(b), any accrued standard earned pension and accrued added pension claimed is treated together as if it were one description of accrued pension.