PART 8Payment of benefits
CHAPTER 3Payment of lump sums
Amount of lump sum payable under regulation 171 instead of a pension credit retirement pension173.
(1)
This regulation applies to a member (P) who applies under regulation 171 to receive a lump sum instead of a pension credit retirement pension.
(2)
The amount of the lump sum payable to P is an amount equal to 5 times the annual rate of the pension credit retirement pension.