Conversion of part of pensionE+W
168.—(1) The following members may apply to the scheme manager to receive a lump sum in place of part of a pension—
(a)a member who is entitled to payment of a retirement pension;
(b)a pension credit member who is entitled to payment of a pension credit retirement pension.
(2) Paragraph (1)(b) only applies if—
(a)the member's pension credit is derived from rights attributable to the pensionable service of a pension debit member; and
(b)a retirement pension does not become payable to the pension debit member before the day on which a pension-sharing order takes effect in respect of that pensionable service.
(3) An application under this regulation must—
(a)be in writing;
(b)be made when the member applies under regulation 162 for payment of the pension; and
(c)specify—
(i)the amount of the lump sum which the member wishes to receive; or
(ii)the conversion amount.