Paragraph 40 Cancellation of optionI1

A member may, by notice to the scheme manager, cancel an enhanced effective pension age option at any time during the periodical payment period.

If the member cancels the option, the periodical payments cease to be payable from the beginning of the next scheme year after the scheme manager receives notice of the cancellation.

A member may cancel that part of the periodical payments which relate to the years after the member would reach 60 and before the member would reach 65 without cancelling that part of the periodical payments which relate to the years after the member would reach 65 and before the member would reach normal pension age.

A member who has cancelled an enhanced effective pension age option may not resume periodical payments in relation to that option without the approval of the Minister.