PART 5Retirement benefits

CHAPTER 6Allocation of part of pension

Making an allocation election81

1

When an active or deferred member intends to make an allocation election, that member must—

a

satisfy the scheme manager that that member is in good health and has a normal life expectancy; and

b

give the scheme manager written notice of an allocation election specifying—

i

the portion,

ii

the name and address of the beneficiary,

iii

the sex of the beneficiary, and

iv

the date of birth of the beneficiary.

2

The notice of allocation, which may be sent by post, must be given not earlier than two months before the pension comes into payment.

3

Where the requirements in paragraphs (1) and (2) have been satisfied, the scheme manager must notify the member that it has accepted the allocation election.

4

An election has no effect if the member or the beneficiary dies before the notice of allocation takes effect.