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Regulation 63 Allocation electionI1

United Kingdom

(1)

This regulation applies in relation to a full retirement pension or a partial retirement pension payable in respect of a member’s pensionable service under this scheme.

(2)

The member may elect to allocate part of the retirement pension to a beneficiary (“allocation election”).

(3)

The beneficiary of an allocation election must be a person who, when the allocation election is made, is—

(a)

the member’s spouse or civil partner;

(b)

financially wholly or mainly dependent on the member; or

(c)

financially interdependent with the member.

(4)

If the member wishes to allocate pension to more than one beneficiary, the member must make a separate allocation election in respect of each beneficiary.

Annotations

Commencement

I1

Reg. 63 in force at 1.4.2022, see reg. 1(4)