The Scotland Act 1998 (Transitory and Transitional Provisions) (Scottish Parliamentary Pension Scheme) Order 1999

Benefits which may be provided

6.—(1) Subject to the limits set out in paragraph 10, a contributor shall be entitled to whatever benefits are secured by the contributions paid by him, and by any transfer value accepted under paragraph 4(4).

(2) The benefits normally permitted are–

(a) a lump sum payable on the death of the contributor;

(b) a return of the contributor’s contributions in respect of retirement benefits to the extent of the total realisable value of the investments made by the Parliamentary corporation with the contributions made by the contributor, payable either on the death of the contributor before retirement or in the circumstances referred to in paragraph 9;

(c) on the death of the contributor before retirement, a pension payable to the contributor’s spouse throughout the remainder of his or her lifetime;

(d) on the death of the contributor after retirement, a pension payable to one or more dependants throughout the remainder of their lifetime (save that, in the case of a child not falling within article K2(6)(c), the pension shall only be payable until the child reaches the age of 17 or, if later, until the child ceases to be within his period of full-time education or training as defined in article M6(2); and

(e) a pension payable to the contributor from the contributor’s retirement throughout the remainder of his or her lifetime, under which–

(i) payments may be guaranteed to be payable for up to 10 years after retirement in any event; or

(ii) payments may be guaranteed to be payable for up to 5 years after retirement with any balance in respect of any period between death and the expiry of the period of 5 years being paid in one lump sum on death.

(3) Pensions may be level in payment, increase at a fixed rate, vary in line with the index or with the value of units in a unit trust, managed fund or insurance company fund or be provided on a with-profits basis.

(4) In the case of benefits payable at or after a contributor’s retirement, the choice of which of the above types of benefit shall be payable shall be made by the contributor at retirement.