# The State Pension Credit Regulations 2002, Paragraph 23A


Where a person elects to be entitled to a lump sum under Schedule 5 or 5A to the 1992 Act or under Schedule 1 to the Graduated Retirement Benefit Regulations, or is treated as having made such an election, and a payment has been made pursuant to that election, an amount equal to—
(a) except where sub-paragraph (b) applies, the amount of any payment or payments made on account of that lump sum;
(b) the amount of that lump sum,
but only for so long as that person does not change that election in favour of an increase of pension or benefit.

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Source: https://www.legislation.gov.uk/uksi/2002/1792/schedule/V/paragraph/23A (the official version)
Page: https://openlegislation.uk/state-pension-credit-regulations-2002/schedule-V/paragraph-23A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.