SCHEDULE 3Payments for added pension
PART 4Lump sum payments for added pension made by member
Member's option to make a lump sum payment for added pension13
1
The option notice must specify the amount of the lump sum which must not be less than any minimum amount determined by the scheme manager.
2
The lump sum is payable immediately to the scheme manager by deduction by the member's employer from the member's pay or otherwise.