Paragraph 7 Rules, practices, actions and decisions relating to benefitI1

England, Wales and Scotland

(1)

Subject to sub-paragraph (4), a minimum age for any member of a scheme to be entitled to a particular age related benefit that is paid in accordance with sub-paragraph (2) and is paid—

(a)

either with or without consent (whether of an employer, the trustees or managers of the scheme or otherwise), and

(b)

before the early retirement pivot age relevant to that age related benefit.

(2)

The age related benefit must—

(a)

be actuarially reduced on the basis that the aim is to reflect that it is paid on a date before the applicable early retirement pivot age; and

(b)

not be enhanced by crediting the member with any additional periods of pensionable service or additional benefits.

(3)

Sub-paragraph (1) shall also apply to different minimum ages for different groups or categories of members.

(4)

Sub-paragraph (1) shall not apply to any member who retires on the grounds to which paragraph 8, 9 or 12 apply.

Annotations

Commencement

I1: Sch. 1 para. 7 in force at 1.10.2010, see art. 1