Paragraph 8 Rules, practices, actions and decisions relating to benefitI1

England, Wales and Scotland

(1)

A minimum age for any active or prospective members of a scheme for payment of or entitlement to a particular age related benefit before the early retirement pivot age relevant to that age related benefit where—

(a)

the entitlement to the age related benefit at a minimum age applies to a member who is an active or prospective member of the scheme on 1st December 2006;

(b)

the age related benefit may be paid, at a minimum age, to the active or prospective member either with or without consent (whether of an employer, the trustees or managers of the scheme or otherwise); and

(c)

the age related benefit is enhanced in one or more of the ways specified in sub-paragraph (2).

(2)

For the purposes of sub-paragraph (1)(c) the specified ways are the enhancement of any age related benefit payable to or in respect of the member calculated in one or more of the following ways—

(a)

by reference to some or all of the years of prospective pensionable service a member would have completed if that member had remained in pensionable service until normal pension age;

(b)

by reference to a fixed number of years of prospective pensionable service;

(c)

by making an actuarial reduction which is smaller than if early retirement had been on grounds to which paragraph 7 applies; or

(d)

by not making any actuarial reduction for early retirement.

(3)

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

Annotations

Commencement

I1: Sch. 1 para. 8 in force at 1.10.2010, see art. 1