TNAG-0697-FCO40-847-Pension-scheme-for-governors-1978 — Page 85

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f

3.15 3.18

3.19

3.20

5.1

Transfer to the PCSPS (with the duplicated 3.10).

This is to be transferred to the PCSPS and to be re- drafted on the basis that a deferred pension under the PCSPS will come into payment from the like date notwithstanding that the individual has not reached age 60.

Transfer to the PCSPS.

Amend to refer to the (new) provision in the PCSPs.

Add at end:

A lump sum payable under Rule 3.1 of the PCSPS shall be treated as a capital sum for this purpose. The lump sum will be the amount before any deduction under rules 4.17 or 4.49 of the PCSPS. I am having the PCSPS checked for consequential references7.

5. One further point. Article 3.12 requires whichever is greater to be paid- there is no individual choice. But this ignores the effect of Pensions Increase. An aggregated service award might be better than the sum of those under 3.3 and 3.18 on the basis of basic pensions but not after taking account of increase on the PCSPS pension allowed under 3.18. Is this what you intend or is that acceptable?

6. I am copying to Benest and Hall.

Yours sincerely

D L HAWKINS Superannuation

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