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The National Health Service Pension Scheme Regulations 2015

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Changes over time for: Section 52

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There are currently no known outstanding effects for the The National Health Service Pension Scheme Regulations 2015, Section 52. Help about Changes to Legislation

Amount of allocationE+W

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52.—(1) An election under regulation 51 may not allocate more than one-third of the member's (M) relevant annual pension.

(2) An election may not allocate an amount that would result in—

(a)the allocated annual pension exceeding M's unallocated relevant annual pension;

(b)the allocated annual pension exceeding such amount as the scheme manager determines for the purposes of this paragraph—

(i)after consultation with the scheme actuary; and

(ii)having regard to any restrictions imposed under Part 4 of the 2004 Act M1; or

(c)the value of the allocated annual pension being such that a lump sum could be paid under paragraph 6 of Schedule 3 by way of commutation of a pension of that amount if the person entitled to the pension is not entitled to any other benefits under the scheme.

(3) The annual pension allocated must be an exact number of pounds.

(4) A pension provided pursuant to the election must be calculated in accordance with tables prepared by the scheme actuary.

Marginal Citations

M1Part 4 deals with tax provision for pension schemes.

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