Regulation 4 Death benefits: members’ pension guarantees

Part M of the Principal Regulations is amended as follows.

In regulations M2(4), M2(5)(b), M3(3), M4(4), M5(6), M5A(1)(a), M5A(6) and M7(3) and in the heading of regulation M5A insert “or C5B” after “regulation C5A”.

In regulation M5A(8) for the definition of “the assumed L1 gratuity” substitute –

““the assumed L1 gratuity” means the gratuity that the Trustees could have granted the pensioner Member’s personal representatives under regulation L1 if he had died immediately before –

(a)

in the case of a pensioner Member who exercised the option under regulation C5A, 5th April 2006, and

(b)

in the case of a pensioner Member who exercised the option under regulation C5B, the relevant date (as defined in regulation C5B(5)).”.