Paragraph 48 Application for payment of benefits for pension credit members

A F1pension credit member (P) F2with pension credit rights in this scheme and the existing scheme who has not reached normal pension age under the existing scheme when P applies for payment of a pension credit retirement pension under this scheme will receive F3under the existing scheme payment of any benefits payable to (P) in respect of pensionable service under the existing scheme.

If P applies for payment of a pension credit retirement pension after having reached normal pension age under the existing scheme, P may apply F4under this scheme for payment F5... of a pension credit retirement pension in respect of pensionable service under—