Regulation 22 Option to take retirement compensation prematurely
If a person to whom this Part of these Regulations applies has suffered loss of employment after attaining the age of fifty years and so requests the compensating authority by notice in writing, he shall be entitled, as from the date on which the compensating authority received 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 that date:
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 19; and
where the person has claimed long-term compensation the said notice shall be given not later than two years after the decision on the claim or, where the decision has been reviewed under regulation 35(3), not later than two years after the review, or if there has been more than one such review, after the latest.
Regulation 21(2) shall apply in relation to a notice given under the last foregoing paragraph as it applies to a claim 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.