Regulation Q5 Paying for unreduced retirement lump sum by single paymentC1C2

A man who wishes to pay for an unreduced retirement lump sum by a single payment must elect to do so within 12 months after getting married, or, if he is not then a member, within 12 months of first rejoining F1this Section of the scheme after getting married.

A woman who wishes to pay for an unreduced retirement lump sum by a single payment must elect to do so within 12 months after nominating her husband to receive a dependent widower’s pension under regulation G8 (dependent widower’s pension).

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A member who has a F4scheme partner who wishes to pay for an unreduced lump sum by a single payment must elect to do so within 12 months after applying for the member’s scheme partner to receive a dependent surviving F5scheme partner’s pension under regulation G15.

The amount of a single payment for an unreduced retirement lump sum will be calculated in accordance with Table 2 of Schedule 1.

For the purposes of Table 2 of Schedule 1, “remuneration" means, subject to paragraph (5), the same as in regulation Q4(4) and (5) (meaning of remuneration for the purposes of Table 1 of Schedule 1).

In the case of a member who elects to buy an unreduced retirement lump sum but who is no longer required to contribute under regulation D1 )contributions by members) because regulation D1(3) or (4) applies’ “remuneration" means the amount to which a pension equal to the member’s final year’s pensionable pay and beginning on the day on which regulation D1(3) or (4) started to apply would have been increased under Part I of the Pensions (Increase) Act 1971 at the date of the election to buy the unreduced retirement lump sum.

The member must make any single payment for an unreduced retirement lump sum within 3 months after electing to do so or, if later, within 6 months after starting pensionable employment.