Article 6 Limits on amount of pension surrendered
A person making an allocation under Rule 1 of these Rules shall not surrender—
more than one-third of his pension; or
so much of it as would make the amount of pension (as reduced by the amount surrendered) payable to him less than the amount of pension payable to the beneficiary after the death of the peron making the allocation; or
so much of it as would make the amount of pension (as reduced by the amount surrendered) payable to him less than his notional graduated retirement benefit; or
an amount of his pension which is not an exact number of pounds.
A person making an allocation under Rule 2 of these Rules shall not surrender—
a greater part of his pension than would, either alone or together with any part of his pension of which a surrender has been allowed under Rule 1 of these Rules or under the Superannuation (Allocation of Pension) Rules 1935 f1 and has not been cancelled under section 30(2) of the Superannuation Act 1949, amount to one-third of his pension; or
so much of it as would make the amount of pension (as reduced by the amount surrendered) payable to him less than the amount of pension payable to the beneficiary after the death of the person making the allocation; or
so much of it as would make the amount of pension (as reduced by the amount surrendered) payable to him less than his national graduated retirement benefit; or
an amount of his pension which is not an exact number of pounds.
Where a person has declared a desire to surrender such part of his pension as would, either alone or together with any part of his pension already surrendered under Rule 1 of these Rules or under the Superannuation (Allocation of Pension) Rules 1935, exceed one-third of his pension, then the Treasury may make an award as if he had declared a desire to surrender the maximum amount which he is allowed to surrender under this Rule.
Annotations
Footnotes
- f1
-
(Rev. XVII, p.533:1935, p.1352).