No payment of pension other than:

a scheme pension (see ¶392-250);

a lifetime annuity (see ¶392-350); or

a ‘drawdown pension’ (see ¶392-450),

may be made in respect of a money purchase or cash balance arrangement (see ¶375-750 and ¶375-800). However, a scheme pension may only be paid if the member had an opportunity to select a lifetime annuity instead.

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