Paragraph 5 F1

A pension credit member shall be entitled to the commutation of the whole of the benefits payable to or in respect of him under the scheme constituted by these Regulations by virtue of rights attributable (directly or indirectly) to a pension credit before reaching normal benefit age if the pension credit member is suffering from serious ill-health before normal benefit age.

In sub-paragraph (1) “serious ill-health” means ill-health giving rise to a life expectancy of less than one year from the date on which commutation is applied for.

In the case of such a member the relevant F2police pension authority may realise the investments made under paragraph 1 without purchasing an annuity and pay the proceeds to the pension credit member as a lump sum.