Regulation 34

Subject to this regulation, every member exercising an option under regulation 32 to whom a pension is granted under these Regulations may, on his retirement, be paid a reduced pension together with a commuted pension gratuity of an amount equal to of his one year’s pensionable emoluments at the date immediately before his conversion in respect of each complete month of pensionable service before his conversion subject to a maximum of 3 years’ pensionable emoluments as at the date immediately before his conversion.

The reduced pension to be granted under this regulation shall be the amount of his annual pension less of the gratuity granted to him.

A member who is paid a reduced pension under paragraph (1) shall, after the expiration of 12 years and 6 months from the date he is granted the reduced pension, be eligible for the full pension as if there had been no reduction.

A member to whom a reduced pension together with a gratuity is granted under these Regulations may, at his option exercisable in accordance with these Regulations, be paid in lieu of the reduced pension together with a gratuity, the full pension without any gratuity.

The option shall be exercisable, and if it has already been exercised may be revoked, not later than the day immediately preceding the date of the member’s retirement.

If the member has not exercised the option prior to the day immediately preceding the date of his retirement, the Armed Forces Council may, if it appears in the circumstances equitable to do so, allow the member to exercise the option at any time between that date and the date of award of a pension to him.

If a member who has exercised the option under paragraph (4) dies after he has retired but before a pension has been awarded to him, it shall be lawful for the Armed Forces Council to grant to his dependants or his legal personal representatives a commuted pension gratuity as if the member has before his death exercised the option to accept a reduced pension and gratuity.

Regulation 26 shall not apply to a member to whom this regulation applies.