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Paragraph 12 Commutation of child pension

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

A pension payable under this Chapter may be commuted for a lump sum—

(a)

with the consent of the child’s remaining parent or, if the child has none, the child’s guardian or, if the child has none, the child if the child is over eighteen, and

(b)

if, when commuted, the lump sum would be a trivial commutation lump sum death benefit within the meaning of paragraph 20 of Schedule 29 to the Finance Act 2004.

(2)

The amount of the lump sum must be calculated in accordance with tables prepared by the Scheme Actuary and in force when the commutation takes effect.

(3)

On the day on which a pension is commuted under this rule, all other entitlements of the child under this Scheme are extinguished to the extent that they derive from the deceased member.