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The National Health Service (Pension Scheme, Injury Benefits and Additional Voluntary Contributions) Amendment Regulations 2006

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Amendment of Schedule 2 to the Additional Voluntary Contributions Regulations

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40.—(1) Schedule 2 to the Additional Voluntary Contributions Regulations (pension sharing on divorce or nullity of marriage or, dissolution or nullity of a civil partnership) is amended in accordance with this regulation.

(2) In paragraph 4 (pension credit benefit)—

(a)at the end of sub-paragraph (1), add “(including, where appropriate, a pension commencement lump sum)”;

(b)after sub-paragraph (5)(a), insert—

(aa)whether a pension commencement lump sum and a pension payable for life is to be provided;;

(c)for sub-paragraph (7), substitute—

(7) Upon receipt of a notice of election under sub-paragraph (5) the Secretary of State shall, as soon as reasonably practicable, realise the investments made under paragraph 2 and—

(a)where sub-paragraph (5)(aa) does not apply, apply the proceeds to the purchase of an annuity from the authorised provider specified in the notice of election;

(b)where that sub-paragraph does apply—

(i)pay the percentage of the proceeds specified in the notice of election as a pension commencement lump sum, and

(ii)apply the balance of those proceeds to the purchase of an annuity from the authorised provider specified in that notice,

and not otherwise..

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