Option for members in serious ill-health to exchange whole pension for lump sum
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5.—(1) Rule D.11 of the Scheme (option for members in serious ill-health to exchange whole pension for lump sum) is amended as follows.
(2) In paragraph (1) for the words from “if” onwards substitute—
“if the Secretary of State—
(a)is satisfied that the member is expected to live for less than one year, and
(b)has received evidence from a registered medical practitioner that that is the case.”.
(3) In paragraph (2) for “a member” substitute “an active member or a deferred member”.
(4) After paragraph (2) insert—
“(2A) Where a pension credit member so opts, he is to be paid as soon as is reasonably practicable an amount that in the opinion of the Scheme actuary is equivalent to the value of his pension credit rights.”.