PART 4Contributions
CHAPTER 4Allocation
Effect of allocation53
1
If an election by a member (M) under regulation 50 has taken effect—
a
M's pension is reduced accordingly (even if the beneficiary predeceases M); and
b
if the beneficiary survives M, on M's death the beneficiary becomes entitled to the payment of a pension for life of such amount as is determined in accordance with regulation 51.
2
An allocation is disregarded if it would result in a pension being paid to a beneficiary who is neither—
a
M's spouse or civil partner on the date when M becomes entitled to the pension or dies; nor
b
at the time of M's death, a dependant of M (within the meaning of paragraph 15(2) or (3) of Schedule 28 to the 2004 Act M1).
3
References in these Regulations to pensions under Part 5 do not include pensions under this regulation, except where context otherwise requires.
4
A pension under this regulation is payable to the beneficiary in addition to a pension payable in respect of M's death under Part 6.