Paragraph 16 Member’s option to make a lump sum payment for added pension

A member may exercise the option to make a lump sum payment for added pension by notice to the scheme manager in a form required by the scheme manager.

The option notice must specify the amount of the lump sum, which must not be less than any minimum amount determined by the scheme manager.

The lump sum is payable immediately to the scheme manager by deduction by the member’s employer from the member’s pensionable earnings or otherwise.