{
  "url": "https://openlegislation.uk/parliamentary-pensions-consolidation-and-amendment-regulations-1993/regulation-G1",
  "json_url": "https://openlegislation.uk/parliamentary-pensions-consolidation-and-amendment-regulations-1993/regulation-G1.json",
  "legislation": "uksi/1993/3253",
  "legislation_title": "The Parliamentary Pensions (Consolidation and Amendment) Regulations 1993",
  "legislation_url": "https://openlegislation.uk/parliamentary-pensions-consolidation-and-amendment-regulations-1993",
  "path": "regulation/G1",
  "kind": "regulation",
  "number": "G1",
  "heading": "Commutation into lump sum",
  "text": "(1) Any person who is entitled to receive a pension under Part F (including an ill-health pension payable by virtue of Part J) or who applies to receive a pension under Part H may, before the first instalment of the pension is paid, give notice to the Trustees that he desires to commute into a lump sum such part of the pension as is specified in the notice.\n(2) Where a person has given notice under this regulation, the Trustees shall determine—\n(a) what lump sum would be actuarially equivalent to the part of the pension specified in the notice; and\n(b) what reduction of the annual amount of his pension would be appropriate in consideration of the payment of that lump sum; and\nsubject to the following provisions of this regulation, a lump sum of the amount so determined shall be paid to that person and the annual amount of his pension shall be reduced accordingly.\n(3) Any lump sum or reduction to be determined under paragraph (2) above shall be a sum or reduction either certified by the Government Actuary, or calculated in accordance with tables to be prepared from time to time by the Government Actuary, as fulfilling the conditions specified in sub-paragraph (a) or sub-paragraph (b) of that paragraph, as the case may be.\n(4) If, in the case of any person who has given notice under this regulation, the amount of the lump sum determined in accordance with paragraphs (2) and (3) above, would exceed the maximum commutable sum—\n(a) the amount of the lump sum so determined shall be diminished by such proportion as is necessary to make it equal to the maximum commutable sum; and\n(b) the reduction of the annual amount of his pension under that regulation shall be diminished by the like proportion.\n(5) For the purposes of paragraph (4) above, the maximum commutable sum in the case of any person shall be calculated in accordance with Schedule 3 and, in the case of a person who became a participant on or after 1st June 1989, shall be subject to an overall maximum of 120/80 of the permitted maximum.\n(6) In determining the amount of the lump sum under this regulation, the maximum commutable sum shall if necessary be diminished so that the annual amount of pension shall not be reduced under paragraph (4) above below the rate of the guaranteed minimum pension.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "am (retrosp) (to 1.12.2000)",
      "affecting": "uksi/2001/2649",
      "affecting_title": "The Parliamentary Pensions (Amendment) (Pension Sharing) Regulations 2001"
    },
    {
      "type": "inserted",
      "affecting": "uksi/2006/920",
      "affecting_title": "The Parliamentary Pensions (Amendment) Regulations 2006"
    },
    {
      "type": "substituted for reg. G1(5)",
      "affecting": "uksi/2006/920",
      "affecting_title": "The Parliamentary Pensions (Amendment) Regulations 2006"
    },
    {
      "type": "omitted",
      "affecting": "uksi/2006/920",
      "affecting_title": "The Parliamentary Pensions (Amendment) Regulations 2006"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1993/3253/regulation/G1",
    "retrieved_at": "2026-10-29T13:43:34.947939+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}