Paragraph 28 Person ceasing to be in pensionable employment
Where a person who has made a monthly contribution election ceases to be in pensionable employment before the end of the payment period and does not again enter pensionable employment within one month the person may (except where paragraph 29 applies)—
pay to the Secretary of State a lump sum of such amount, determined by him, so that he may be credited with the amount of additional benefits specified in the election, or
elect to be credited with an amount of additional benefits, determined by the Secretary of State having regard to the contributions paid before he ceased to be in pensionable employment.
Where the lump sum referred to in sub-paragraph (1)(a) is not received by the Secretary of State within one month after the date on which the person ceased to be in pensionable employment the person is treated as having elected to be credited with additional benefits under sub-paragraph (1)(b).