Regulation 21 Limits on benefits

For paragraph 24 of Schedule 2 substitute—

“24.

Any limitation on the amount of any age related benefit or death benefit payable from a scheme where the limitation—

(a)

relates to—

(i)

all members who joined, or who became eligible to join the scheme on, after or before a particular date; or

(ii)

any group or category of members who joined, or who became eligible to join the scheme on, after or before a particular date; and

(b)

results from imposing a maximum level of pensionable pay by reference to which the age related benefit or death benefit may be calculated.”.