PART III OPTIONAL ADDITIONAL BENEFITS

CHAPTER III MEMBERS' OPTIONS TO INCREASE PENSIONS

Conversion between lump sums and pensions

60 Election for pension in lieu of retirement grant
1 Where a member, or a deferred member immediately before the commencement date, has become entitled to the immediate payment of a pension under Part II or Part D of the 2000 Regulations as the case may be, he may make an election under this regulation for the whole or part of the retirement grant or, in the case where the entitlement to pension is under regulation 29 or regulation D7 of the 2000 Regulations, of the ill-health retirement grant to be used instead by the Scheme to provide pension for him.
2 The election must be made by notice in writing to the Committee given not more than three months before the date on which the member becomes so entitled.
3 The election must specify the amount of the grant which the member wishes to be used for the provision of pension.
4 Where a member makes such an election, he becomes entitled to such additional pension as is shown as appropriate in guidance issued by the Government Actuary.
5 The additional pension is payable immediately.
6 Where a member makes such an election, for these Regulations the amount of his pension includes the amount of any additional pension payable under this regulation.
7 No person who has elected under regulation 61 may also elect under this regulation.