Regulation 18A Limit on total amount of benefitsF1

A member and any dependant of his shall not be entitled, under any provision F3except as provided in regulation 52(1) (commutation: exceptional ill-health), to receive benefits the capital value of which exceeds his lifetime allowance, increased where applicable by his primary protection or enhanced protection, except in accordance with guidance issued by the Government Actuary.

In this regulation, “lifetime allowance”, “primary protection” and “enhanced protection” are to be construed in accordance with section 218 of, and Schedule 36 to, the Finance Act 2004.

Any calculation of the capital value of a member’s benefits is to be carried out in accordance guidance issued by the Government Actuary.