Early payment of deferred pension subject to actuarial reduction
33.—(1) Subject to paragraphs (2) and (3), a regular police officer who is entitled to a deferred pension payable, in accordance with regulation 32(4), upon that officer attaining the age of 65, may elect for immediate payment of that pension subject to an actuarial reduction:
Provided that no payment shall be made in respect of the period before the officer concerned attains the age of 55 years.
(2) An election under paragraph (1) shall be made by giving written notice to the police authority at least 1 month before the date on which the officer concerned wishes such payment to commence.
(3) The actuarial reduction shall be calculated by the police authority in accordance with tables prepared by the Scheme actuary.
(4) Where a regular police officer who has made an election under paragraph (1) dies, any survivor’s pension payable in respect of that officer shall be calculated as if no such election had been made.