Forms of benefits payment

←→ Navigate · Click subsection badges to collapse · Press ? for help

A participant may elect at the time of retirement to be paid —

a reduced pension at a rate of not less than seventy-five per cent of the pension to which he is eligible; and

a commutation lump sum cash payment of not less than twenty-five per cent of such pension.

7 Parts

s.34Forms of benefits payment— Parliamentary Pensions Act (2016 Revision)

Section 34Part 5 — Pension Benefits

←→ Navigate · Click subsection badges to collapse · Press ? for help

A participant may elect at the time of retirement to be paid —

a reduced pension at a rate of not less than seventy-five per cent of the pension to which he is eligible; and

a commutation lump sum cash payment of not less than twenty-five per cent of such pension.