SCHEDULE 2Scheme flexibilities
PART 2Additional pension election
CHAPTER 5Revocation and refund
Revoking an additional pension election18
1
P may revoke an additional pension election at any time before the end of the contributions payment period.
2
A revocation must be by written notice to the scheme manager.
3
A revocation has effect from the date it is received by the scheme manager (“date of revocation”).
4
P is taken to revoke an additional pension election if—
a
P leaves all pensionable service before the end of the contributions payment period; and
b
P is qualified or re-qualified for retirement benefits in respect of that service.
5
On the date of revocation—
a
monthly payments for additional pension under that election cease to be payable; and
b
the amount of accrued additional pension as at that date is an amount determined by the scheme manager.