Regulation 32 Lump sum for transferee at age 65

This regulation applies if the transferee becomes entitled to the pension credit before P becomes entitled to a lump sum under Part 3.

At the time the transferee becomes entitled to a pension under regulation 30, the transferee becomes entitled to a lump sum.

The amount of the lump sum is to be determined in accordance with the following formula—

where A is the annual rate of the pension to which the transferee is entitled under this Part.