Paragraph 1 Interpretation

In this Schedule—

• “added pension option” means the option to make added pension payments;

• “amount of accrued added pension” means the total of—

  1. (a)

     the amount of accrued added (self only) pension (if any); and

  2. (b)

     the amount of accrued added (all beneficiaries) pension (if any);

• “amount of extra pension” has the meaning given in paragraph 2;

• “appropriate pay period” means the pay period that the scheme manager considers appropriate;

• “overall limit of extra pension” has the meaning given in paragraph 3;

• “periodical payment period” means the period for which periodical payments for added pension or an effective pension age are payable;

• “period of service”, in relation to this scheme, means a continuous period of pensionable service under this scheme;

• “the relevant day”, in relation to a lump sum payment for added pension, means—

  1. (a)

     if the scheme manager provides a statement of the amount of added pension, the first day after the period of one month beginning with the date of the statement; or

  2. (b)

     otherwise, the day on which the lump sum payment is received by the scheme manager;

• “the relevant scheme year” means the scheme year in which the relevant day falls;

• “statement of the amount of added pension” means the statement referred to in paragraph 17;

• “third party” means a third party approved by the scheme manager to make payments for extra pension in respect of an active member of this scheme; and

• “value”, in relation to an effective pension age option, means a value determined by the scheme manager under paragraph 29 of this Schedule.