On 22/05/2013,
you requested for the version in force on 22/05/2013
incorporating all amendments published on or before 22/05/2013.
The closest version currently available is that of 01/06/2012.
26.
—(1) Subject to these Regulations, a member to whom a pension is granted under regulation 23 may, at his option exercisable in accordance with this regulation, be paid —
(a)
in the case of a member retiring from, or appointed to, the pensionable service on or after 1st January 1995 but before 13th June 1997 —
(i)
a full pension without any gratuity;
(ii)
a reduced pension together with a gratuity ascertained in accordance with regulation 26A; or
(iii)
a commuted full pension gratuity ascertained in accordance with regulation 26A without any pension; or
(b)
in the case of a member appointed to the pensionable service on or after 13th June 1997 —
(i)
a full pension without any gratuity;
(ii)
a commuted full pension gratuity ascertained in accordance with regulation 26A without any pension.
(2) The option under paragraph (1) is exercisable not later than the day immediately before the date of the member’s retirement, but if the member does not exercise the option before 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 on the date of his retirement, or at any time between the date of his retirement and the day before the date of payment of a pension or gratuity to him.
(3) If a member exercises the option under paragraph (1), his decision shall, subject to paragraph (5), be irrevocable so far as concerns the pension or gratuity referred to in this regulation.
(4) A member who has not exercised an option in accordance with this regulation is deemed to have opted to receive a commuted full pension gratuity ascertained in accordance with regulation 26A without any pension.
(5) A member who is paid a reduced pension pursuant to his option exercised in accordance with this regulation is eligible for the full pension without reduction after the expiration of 12 years and 6 months from the date he was granted the reduced pension.
(6) Where a member opts in accordance with this regulation to receive a commuted full pension gratuity ascertained in accordance with regulation 26A, the commuted full pension gratuity shall, subject to paragraph (7), be payable as follows:
(a)
part of the commuted full pension gratuity, being a sum equal to the difference between the total amount paid by the Government to the Central Provident Fund on account of the member with respect to his service, and the total amount payable to the Government to that Fund on account of the member with respect to the same service if the member had not been on the pensionable service, together with the interest thereon, shall be paid to the member’s account in the Central Provident Fund; and
(b)
the balance of the commuted full pension gratuity shall be paid to the member.
(7) Where the commuted full pension gratuity ascertained in accordance with regulation 26A is less than the sum referred to in paragraph (6)(a), the entire commuted full pension gratuity shall be paid to the member’s account in the Central Provident Fund.
(8) For the purposes of paragraph (6)(a), the reference to the total amount paid or payable by the Government to the Central Provident Fund in respect of any member does not include a reference to any amount thereof which is recoverable from the member’s salary under the Central Provident Fund Act (Cap. 36) or any regulations made under that Act.