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The Firefighters' Pension Scheme (Scotland) Order 2007
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Commutation: small pensions
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10.—(1) Where the amount of any pension payable under this Part to a person who has attained state pensionable age, together with any pension to which the person is entitled under rule 1 of Part 6 and any increase under the Pensions (Increase) Act 1971(1), does not exceed the commutation limit specified for the purposes of Part 1 of Schedule 29 to the Finance Act 2004 (lump sum rule)(2), the Scottish fire authority may commute the pension under this Part for a lump sum.
(2) The amount of a lump sum under this rule is the actuarial equivalent of the pension, calculated from tables prepared by the Scheme Actuary.
(3) Where a member is entitled to more than one pension under this Part, the pensions shall be treated as one for the purposes of this rule.
(4) On the day on which a pension is commuted under this rule, all other entitlements of the member under this Part are extinguished.
(1)
(2)
As to “the lump sum rule”, see section 166 of the Finance Act 2004 (c. 12). As to the commutation limit, see paragraph 7(4) of Part 1 of Schedule 29 to that Act.
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