Paragraph 7
Subject to sub-paragraphs (2) and (3), a member or non-member who–
is not in pensionable employment and has become entitled to payment of retiring allowances; and
would otherwise have been able to make an election under paragraph 2 or 3,
-
may make a corresponding election under this paragraph.
An election under this paragraph–
must be made by giving written notice to the Secretary of State within 6 months after the date on which the man became entitled to payment of retiring allowances;
must specify the period in respect of which it is made; and
is irrevocable.
The family benefit contributions payable as a result of an election under this paragraph consistof a lump sum of
where–
-
A is the annual rate at which his salary was last payable,
-
B is the length, expressed in years and any fraction of a year, of the period in respect of which the election was made, and
-
C is the factor ascertained from Table 4 below,
-
but where the election made corresponds to one that could have been made under paragraph 2(1), B is reduced by 1/6th.
TABLE 4
Age on date of election Factor 32 or under 3.15 33-37 3.20 38-42 3.30 43-47 3.35 48 and over 3.40