The Parliamentary Pensions (Amendment) Regulations 2006

Commutation for Members and office holders reaching 75 before 6th April 2006

6.  After regulation C5 of the Contributory Fund Regulations insert—

“Members of the House of Commons and office holders reaching 75 before 6th April 2006

C5A— (1) This regulation applies to any person whose 75th birthday falls on or before 5th April 2006 and who immediately before that date—

(a) is a participating Member or a participating office holder, and

(b) would be entitled to receive a pension under regulation F1 or F3 if he had ceased to be a participant, a Member of the House of Commons and an office holder.

(2) The person may opt under this regulation not to remain a participant in the principal scheme on and after 6th April 2006.

(3) The option must be exercised by notice in writing given to the Trustees before 6th April 2006.

(4) A person who exercises the option under this regulation—

(a) ceases to be a participant on 5th April 2006,

(b) is treated for the purposes of these Regulations (except for regulation F8) as if he ceased to be a Member of the Commons and an office holder on that date (and accordingly is entitled under regulations F1 and F3 to receive the pension to which he would be entitled if he had so ceased, but subject to regulation F8), and

(c) is treated for the purposes of regulation G1 as having given notice under regulation G1(1) on that date of his desire to commute into a lump sum such part of the pension as is specified in the notice under this regulation.”.