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Members of the 1995 Section receive a lump sum at retirement that is normally three times their pension. If you chose to move to the 2008 Section through the Choice exercise, when you retire you must take a mandatory lump sum.

The mandatory lump sum is calculated using the service from the date you joined the scheme up to 31 March 2008 and is normally three times the pension based on this service.

The mandatory lump sum payable is calculated by commuting some of the 2008 section pension and for each whole £1 of annual pension given up it will provide a £12 lump sum.

Provided you have reached age 60 the mandatory lump sum would not be subject to a reduction.