Paragraph D.4 Early payment of pensions with actuarial reductionF1

A member who is not entitled to immediate payment of a pension under rule D.1, D.2 or F2D.3 may opt for immediate payment of a reduced pension and lump sum if the member has reached pension age and either paragraph (2) or paragraph (3) applies.

This paragraph applies if the member—

This paragraph applies if—

If a member exercises the option under this rule, the amount of the annual pension to which the member becomes entitled is first calculated as mentioned in rule D.2(3) or D.3(5) and then that amount is reduced by such amount as the Secretary of State determines after consulting the Scheme actuary.

If a member exercises the option under this rule, the amount of the lump sum to which the member becomes entitled is first calculated as mentioned in rule D.2(4) or D.3(5) and then that amount is reduced by such amount as the Secretary of State determines after consulting the Scheme actuary.

The option under this rule may only be exercised by notice in writing to the Scheme administrator in such form as the Secretary of State requires.