The Local Government Superannuation Regulations 1986

Surrender of part of retirement pension

E20.—(1) This regulation has effect subject to Schedule 12.

(2) A person who—

(a) has become entitled to receive payments in respect of a retirement pension, or

(b) is a pensionable employee and has attained pensionable age,

may surrender as from the relevant date, in favour of his spouse or any dependant of his (“the beneficiary”), a part of the retirement pension which is or, as the case may be, may become payable to him.

(3) For the purposes of this regulation the relevant date is the date of becoming entitled to receive payments in respect of the retirement pension; and if the person dies while a pensionable employee he is to be treated as having become so entitled immediately before he died.

(4) An annual pension at a rate which is (according to tables to be prepared from time to time by the Government Actuary) actuarially equivalent at the relevant date to the value of the surrendered part of the retirement pension becomes payable to the beneficiary on the person's death.

(5) A person who has surrendered part of a retirement pension may surrender further parts of it.