Public Sector Superannuation Reform (Parliamentary Superannuation) Regulations 2016
30Commutation of children's pensions
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30 Commutation of children's pensions
(1) An entitlement to a pension referred to in Subdivision 3 by a child who has not attained the age of 18 years at the date on which the entitlement arises may be commuted to a lump sum payment in accordance with this regulation.
(2) The surviving partner, if any, of the deceased member or former member or, if there is no surviving partner, the guardian of the child, may elect on behalf of the child to commute the pension entitlement to a lump sum payment.
(3) An election on behalf of a child under subregulation (2) must be made by giving a written notice of election to the Commission within 3 months after the child becomes entitled to the pension.
(4) If an election is made on behalf of a child under subregulation (2) , the Commission must, out of the PS Fund, pay –
(a) to the surviving partner of the deceased member or former member; or
(b) if there is no surviving partner, to the guardian of the child –
a lump sum equal to the amount of the annual pension which, but for the election, the child would have been entitled to receive, multiplied by the conversion factor specified in Schedule 4 that is applicable to the child on the expiration of the period referred to in subregulation (3) .
(5) Payment of the lump sum under subregulation (4) must be made within 14 days after the election has been made on behalf of the child, or the expiration of the period referred to in subregulation (3) , whichever is the later.
(6) If, by reason of the death of a member or a former member, a child becomes entitled to a pension under regulation 25(2)(a)(i) or (b)(i) and a lump sum payment is made under this regulation, the election to receive that lump sum does not prevent a further election being made in respect of the pension payable under regulation 25(2)(a)(ii) or (b)(ii) if the surviving partner of the member or former member subsequently dies.
(7) A lump sum payment made in commutation of a pension entitlement payable under or must be calculated at the rate of 15% of the annual pension that would have been payable to the deceased member or former member, multiplied by the conversion factor specified in that is applicable to the child on the date that the lump sum payment is made in respect of the child under .