Reduced pension and gratuity

(1) Any member of the Belize Defence Force to whom a pension is granted under these Regulations may, at his option exercisable as in this regulation provided, be paid in lieu of such pension, a reduced pension at the rate of three-fourths, of such pension together with a commuted pension gratuity equal to twelve and a half times the amount by which the pension is so (2) An option exercisable in accordance with this regulation– (a) shall be exercisable, and if exercised may be revoked, before the date of the members’ retirement or, with the permission of the appropriate authority, at any time between that date and the date of the final award of the to him these Regulations; (b) shall be exercised or revoked by notice in writing addressed to the appropriate authority through the Commandant, Belize Defence (c) shall be deemed to have been exercised or revoked on the date on which such notice is received by the Commandant. (3) If a member of the Belize Defence Force who has not exercised an option in accordance with this regulation dies after he has retired but before a pension has been granted to him Defence 181 under these regulations, the appropriate authority may, if it thinks fit, grant to his legal personal representative a commuted pension gratuity and reduced pension as provided in subregulation (1), as if the officer or soldier had exercised the option before his death.