The Church of England Pensions Regulations 1988

Power of Board to commute pension for capital sum

18.—(1) Subject to paragraphs (2) and (3) below, where the aggregate pension payable under the preceding provisions of this Part of these regulations is not more than one hundred and four pounds per annum, the Board shall have power to commute the pension for such capital sum as is estimated to be the actuarial equivalent thereof, and the Board—

(a) if the person entitled to the pension is of full age and capable of giving an effective discharge, shall pay the capital sum to that person, or

(b) in the case of any other person, shall apply the capital sum for the maintenance, education and benefit of that person in such manner as they may think fit.

(2) The Board shall have power to deduct from any capital sum payable under paragraph (1) above an amount equal to the amount of any income tax payable by the Board in respect of that sum.

(3) Where the aggregate pension payable under the preceding provisions of this Part of these regulations is more than fifty pounds per annum and the person entitled to the pension is of full age and capable of giving his consent, the Board shall not exercise their powers under this regulation unless they have obtained that consent.