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Paragraph 5 Post-retirement death grant: pension credit members

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

(1)

Where—

(a)

a pension credit member dies within five years of the pension under rule 1 coming into payment and before the member’s seventy-fifth birthday, and

(b)

there is a difference between—

(i)

the amount that is five times the pension, calculated at the annual rate effective on the day that it came into payment, and

(ii)

the aggregate of —

(aa)

the instalments of pension that have been paid, and

(bb)

any lump sum received on commutation under rule 3,

the authority must pay a post-retirement death grant of the amount of that difference.

(2)

The grant may be paid, in whole or in part, to such person or persons as the authority think fit.

(3)

For the purposes of paragraph (1), any increases which, if the pension had continued in payment, would have been taken into account, must be disregarded.