Regulation 62 Procedure for allocation electionI1
United Kingdom
An allocation election must be made not earlier than 6 months before the pension becoming payable or any other date advised to the member by the scheme administrator (“the closing date”).
A member may at any time before the closing date—
revoke an election; or
amend an election by altering the amount allocated by it.
An election and any revocation or amendment of an election must be made in writing in such form as the scheme manager requires and be lodged with the scheme administrator.
Subject to paragraphs (5) and (7), an election takes effect on the closing date.
An election has no effect if—
the member dies before the closing date; or
the person in whose favour it is made (“the beneficiary”) dies before that date; or
the scheme manager is not satisfied that at the time the election is made the beneficiary is the member’s spouse or civil partner or a person who in the opinion of the scheme manager meets one of the conditions specified in paragraph (6).
The conditions are—
that the person is financially wholly or mainly dependent on the member; or
that the member and the person are financially interdependent.
An election has no effect unless—
before the closing date, the member has—
made a declaration about the member’s state of health in such form as the scheme manager may request; and
if requested by the scheme manager, provided evidence relating to the member’s health in accordance with that request; and
the scheme manager is satisfied that at the date on which the member makes the declaration the member is in good health.