Section 84 Claim for early payment

(1)

This regulation applies in relation to a pension credit member (P) who—

(a)

has reached normal minimum pension age; and

(b)

has not reached normal pension age under this scheme.

(2)

P may claim early payment of a pension credit member's pension by notice to the scheme manager in a form required by the scheme manager.

(3)

A claim for early payment—

(a)

must state whether P has opted to buy out the early payment reduction; and

(b)

must specify the date on which payment of the pension is claimed (“the claim date”).

(4)

P is entitled to the immediate payment for life of a pension credit member's pension on the claim date if the scheme manager is reasonably satisfied that on that date the requirements of regulation 7(5) (early retirement or deferred retirement) of the Pension Sharing (Pension Credit Benefit) Regulations (Northern Ireland) 2000 M1 are met.

Annotations

Marginal citations

M1: S.R. 2000 No. 146; regulation 7 was amended by S.R. 2009 No. 115.