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SCHEDULE 2Scheme flexibilities

PART 2Additional pension election

CHAPTER 5Revocation and refund

Revoking an additional pension election

18.—(1) P may revoke an additional pension election at any time before the end of the contributions payment period.

(2) P is taken to revoke an additional pension election if—

(a)P leaves all pensionable service before the end of the contributions payment period; and

(b)P is qualified or re-qualified for retirement benefits in respect of that service.

(3) On the date of revocation—

(a)monthly payments for additional pension under that election cease to be payable; and

(b)the amount of accrued additional pension as at that date is an amount determined by the scheme manager.

(4) A revocation must be by written notice to the scheme manager.

(5) A revocation has effect from the date it is received by the scheme manager (“date of revocation”).