Paragraph 7 Added pension option exercisable by member
An active member of this scheme may opt to make added pension payments to increase—
the member’s retirement benefits for a period of service; or
both the member’s retirement benefits and death benefits payable in respect of the member for a period of service.
A member may exercise the added pension option by notice to the scheme manager in a form required by the scheme manager.
The option notice must state whether the added pension payments are to be made by—
periodical payments; or
a lump sum payment.
A member may exercise the added pension option more than once but an option to make a lump sum payment for added pension may only be exercised once in any scheme year.
An option to make a lump sum payment for added pension may only be exercised if the member—
has been an active member of this scheme in relation to a continuous period of pensionable service for at least 12 months; and
has been provided with a statement of the amount of added pension (if paragraph 18 applies).