Paragraph 37 Exercise of optionI1

United Kingdom

(1)

An enhanced effective pension age option may only be exercised—

(a)

by notice to the scheme manager in a form required by the scheme manager (“the option notice”); and

(b)

with the approval of the Minister.

(2)

An option notice must state the enhanced effective pension age which is to apply under the option.

(3)

A member may not exercise an enhanced effective pension age option during—

(a)

a period of assumed pay; or

(b)

any scheme year in which the member has reached the overall limit of extra pension for that year.

Annotations