Regulation 23 Option to take retirement compensation prematurely
If a person to whom this Part of these regulations applies has suffered a loss of pension rights and loss of employment after attaining the age of 50 years both losses being attributable to the happening of the relevant event and so requests the compensating authority by notice in writing, he shall be entitled, as from the date on which the compensating authority receives such notice, to an annual sum equal to the amount of his accrued pension and a lump sum equal to the amount of his accrued retiring allowance (if any), and in that event he shall not be entitled to receive any further payment of long-term compensation after the date on which compensation under this regulation becomes payable:
Provided that—
in calculating the amount of the compensation payable to a person who has given such notice as aforesaid no account shall be taken of any additional years of service or period of contribution credited to him under regulation 20; and
where the person has claimed long-term compensation the said notice shall be given not later than 2 years after a decision on the claim has been notified or, where the decision has been reviewed under regulation 34(3), not later than 2 years after the review, or if there has been more than one such review, after the latest.
Regulation 22(2) and (4) shall apply in relation to a notice given under the last foregoing paragraph as it applies to a claim made under paragraph (1) of that regulation.
Where an annual sum is payable under this regulation in respect of any period and resettlement compensation is also payable in respect of that period, the said annual sum shall be limited to the amount (if any) by which it exceeds the resettlement compensation payable as aforesaid.
If a person to whom this Part of these regulations applies has suffered a diminution of pension rights otherwise than by reason of a diminution of his pensionable emoluments and has also suffered a loss of employment after attaining the age of 50 years, such diminution and loss being both attributable to the happening of the relevant event, the provisions of this regulation shall apply and have effect in relation to him in like manner as if he were such a person as is mentioned in paragraph (1) except that the lump sum (if any) referred to in that paragraph shall be reduced by the amount of any pension paid or payable by way of a lump sum under his last relevant pension scheme and except that the annual sum so referred to shall be such annual sum as is therein provided but reduced, on and after the date on which he is first entitled under the said scheme to be paid any instalment of his pension by way of annual amounts, by the amount of each such instalment and paragraph (2) of regulation 24 shall have the like effect in the application of this paragraph as it does in the application of paragraph (1)(b) of that regulation.