15CHConversion of special sum to pension

15CH Conversion of special sum to pension

15CH Conversion of special sum to pension

(1) Subject to this section, a person—

(a) who is a former contributor within the meaning of section 15BF, 15BG or 15BH or the widow or dependent widower of a former contributor within the meaning of section 15BM,

(b) who is paid, or entitled to be paid, a special sum, and

(c) to the calculation of whose benefit section 15CF (4) applies,

may pay to the board an amount equal to the whole or part of the prescribed amount for that person for conversion to a pension in accordance with section 15CI.

(2) For the purposes of subsection (1), the prescribed amount for a person to the calculation of whose benefit section 15CF (4) applies is—

(a) the amount of the special sum applicable in relation to that person, or

(b) the amount paid or payable under section 15CJ (1) in relation to that person,

whichever is the lesser.

ss 15CH–15CJ: Ins 1980 No 191, Sch 4 (4).