Clause 6

Any person to whom a pension is granted under this Act may, at his option exercisable not later than thirty days after the date when he becomes eligible for the grant of such pension, be paid in lieu of the full pension so granted, a reduced pension at the rate of two-thirds (2/3) of the full pension together with a gratuity equal to twelve and one-half (12 1/2) times the annual value of one-third (1/3) of the full pension.

The option for either a full pension or for a reduced pension with commuted pension gratuity as provided for in subsection (1), once exercised, shall not be revoked.

Where a person to whom subsection (1) applies fails to exercise the option within the period specified in the said subsection, the President shall have the power to grant a commuted pension gratuity as provided for in that subsection as if that person had exercised the option within the period mentioned therein.