Lump sum: entitlement and amountU.K.
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Memorandwm Esboniadol
25.—(1) This regulation applies where a member (“P”) retires on or after the commencement day, and becomes entitled to the payment of a pension under this Part.
(2) At the time P becomes entitled to the payment of the pension, P becomes entitled to a lump sum.
(3) The amount of the lump sum is to be determined in accordance with the following formula—
where A is the annual rate of the pension payable to P under this Part.