Pensions Commutation Act 1869
| Jurisdiction | UK Non-devolved |
| Citation | 1869 c. 32 |
Pensions Commutation Act, 1869
(32 & 33 Vict.) CHAP. 32.
An Act to provide for the Commutation of Pensions payable to officers and other persons out of the sums voted by Parliament to defray the charges of the army and navy services.
[26th July 1869]
Whereas it is expedient to make provision for the commutation of pensions payable to officers and certain other persons out of the sums voted by Parliament to defray the charges of the army and navy services:
Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:
1 Short title.
1. This Act may be cited for all purposes as ‘ThePensions Commutation Act, 1869.’
2 Definition of terms.
2. In this Act—
The term ‘the Treasury’ shall mean the Commissioners of Her Majesty's Treasury for the time being, or any two or more of them:
The term ‘pension’ shall include any half-pay, compensation allowance, superannuation or retirement allowance, or other payment of the like nature.
3 Application of Act.
3. This Act shall apply only to officers and persons entitled to pensions out of the sums voted by Parliament to defray the charges of the navy and army services, not including non-commissioned officers and soldiers of Her Majesty's army and petty officers and seamen of Her Majesty's navy.
4 Power to Treasury to commute pensions.
4. It shall be lawful for the Treasury, in accordance with such regulations as they may from time to time make, on the application of any person to whom this Act applies, to commute his pension by the payment of a capital sum of money, calculated according to the estimated duration of the life of the pension-holder, subject to the following provisions:
(1) (1.) In calculating the amount payable in respect of the commutation of any pension, the following rules shall be observed:
(a .) The age of the pension-holder shall be reckoned at the age he will attain on the birthday next succeeding his application for commutation:
(b .) In the case of impaired lives, years shall be added to the age of the pension-holder for the purpose of calculating the amount of commutation payable to him; and in like manner a deduction from age shall be made as an equivalent for the right to prospective increase of the pension to be commuted:
(c .) In calculating the amount payable in respect of any pension, interest shall be reckoned at a rate of not less than five pounds per centum per annum.
(2) (2.) Save as is in this section expressly provided, nothing in this Act contained shall be held to deprive the wife or children of any person whose pension may be commuted of any reversionary right to pension or compassionate allowance to which she or they may be entitled.
(3) (3.) Where any officer whose pension has been commuted under this Act subsequently marries, his widow shall not be entitled to any pension, and no child of any officer whose pension has been commuted born after the date of such commutation shall be entitled to compassionate allowance.
(4) (4.) No application for the commutation of a pension shall be received unless it be accompanied, in the case of an officer or person...
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