28. Where a person elects to be entitled to a lump sum under Schedule 5 or 5A to the SSCBA or under Schedule 1 to the Social Security (Graduated Retirement Benefit) Regulations 2005, or is treated as having made such an election, and a payment has been made pursuant to that election, an amount equal to—E+W
(a)except where sub-paragraph (b) applies, the amount of any payment or payments made on account of that lump sum; or
(b)the amount of that lump sum,
but only for so long as that person does not change that election in favour of an increase of pension or benefit.
Commencement Information
I1Sch. 6 para. 28 in force at 27.11.2012, see reg. 1(1)