Paragraph 61
(1)
The Fund trustees may pay a lump sum (a “partner's trivial lump sum”) to an individual who is entitled to a partner's pension if the following conditions are met—
| Condition 1 | The individual applies to the Fund trustees for payment of a partner's trivial lump sum instead of a partner's pension. |
| Condition 2 | No payment relating to the deceased has been made to the individual by way of—
|
| Condition 3 | The individual is not entitled to receive pension payments under rule 69. |
| Condition 4 | The Fund trustees are satisfied that, if paid, the partner's trivial lump sum would be a “trivial commutation lump sum death benefit” for the purposes of Part 2 of Schedule 29 to the Finance Act 2004 (c. 12). |
(2)
The amount of a partner's trivial lump sum is to be an amount equal to the value of the individual's scheme benefits (as determined by the Fund trustees).
(3)
Such a determination must be—
(a)
certified by the scheme actuary, or
(b)
made in accordance with guidance or tables prepared by the scheme actuary.
(4)
Payment of a partner's trivial lump sum extinguishes all the individual's rights to receive scheme benefits in respect of the deceased.