Paragraph 1 Interpretation

In this Schedule—

• “AP beneficiary” means—

  1. (a)

     in the case of an election under paragraph 2(1), the person who makes the election, and

  2. (b)

     in the case of an election under paragraph 2(2) or (3), the employee or former employee for whose benefit the election is made;

• “dependant's election” means an election under paragraph 2, the notice of which states (in accordance with sub-paragraph (5)(b) of that paragraph) that the election is for an additional pension for both the AP beneficiary and the AP beneficiary's spouse, civil partner, F1surviving qualifying partner or surviving nominated beneficiary;

• “financial year” means the 12 months ending with 31st March;

• “lump sum election” means an election under paragraph 2 which is not a monthly contribution election;

• “monthly contribution election” means an election under paragraph 2, the notice of which states (in accordance with sub-paragraph (6)(b) of that paragraph) that contributions are to be paid in monthly payments;

• “payment period” means, in relation to a monthly contribution election accepted by the Secretary of State, the period beginning on the start date and ending when the last of the monthly payments mentioned in the notice of the election is due to be paid;

• “refund period” means the period ending 1 year after the start date;

• “start date” means—

  1. (a)

     in the case of a lump sum election, the date on which the Secretary of State receives the lump sum, and

  2. (b)

     in the case of a monthly contribution election, the first day of the second month after the month in which the AP beneficiary is notified that the election is accepted.