Paragraph 31 Periodical payment periodI1

if the member exercises the option within 3 months after joining this scheme — the first appropriate pay period beginning on or after the date on which the scheme manager receives the option notice; or

in any other case — the first appropriate pay period of the scheme year beginning on or after the date on which the scheme manager receives the option notice; and

the date on which the member ceases to be in pensionable service in the eligible employment to which the option relates; and

the date on which the member reaches the effective pension age.