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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)