Regulation 63 Allocation electionI1
United Kingdom
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.
The member may elect to allocate part of the retirement pension to a beneficiary (“allocation election”).
The beneficiary of an allocation election must be a person who, when the allocation election is made, is—
the member’s spouse or civil partner;
financially wholly or mainly dependent on the member; or
financially interdependent with the member.
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
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Reg. 63 in force at 1.4.2022, see reg. 1(4)