Allocation election
78.—(1) This regulation applies in relation to a full retirement earned pension or a partial retirement earned pension payable in respect of a member’s pensionable service under this scheme.
(2) The member may elect to allocate part of the retirement pension to a beneficiary (“allocation election”).
(3) The beneficiary of an allocation election must be a person who, when the allocation election is made, is—
(a)the member’s spouse or civil partner;
(b)financially wholly or mainly dependent on the member; or
(c)financially interdependent with the member.
(4) If the member wishes to allocate pension to more than one beneficiary, the member must make a separate allocation election in respect of each beneficiary.
(5) If paragraph (6) applies, the member may elect to allocate only so much of the pension (after subtracting the commutation amount, if any) that exceeds the guaranteed minimum, multiplied by such factor as is indicated for a person of the member’s description in tables provided by the scheme actuary.
(6) This paragraph applies if the member has a guaranteed minimum under section 1 (earner’s guaranteed minimum) of the 1993 Act in relation to the whole or part of a pension as a result of receipt by this scheme of a transfer value payment from another pension scheme in respect of which the member had such a guaranteed minimum.