Paragraph 17 Payment by lump sum from a compensation schemeI1
United Kingdom
(1)
This paragraph applies if the member specifies in the option notice that the whole or part of any lump sum payable to the member under a compensation scheme is to be used as a lump sum payment for added pension.
(2)
The member’s employer may make a lump sum payment for added pension in relation to the member using the whole or part of the lump sum as specified in the option notice.
Annotations
Commencement
- I1
Sch. 1 para. 17 in force at 15.8.2014, see reg. 1(2)