Regulation 3.H.6 Employed pensioners with more than one pensionF1

for paragraphs (1) to (3) substitute—

“(1)

If the condition in paragraph (2) is met, the amount of the old service pensions for any financial year is reduced.

(2)

The condition is that the employed pensioner’s relevant income for the financial year exceeds the employed pensioner’s previous earnings for all the old employments.

(3)

The amount of the reduction under paragraph (1) in the case of each of the pensions is equal to the same proportion of that excess as the amount of the pension for the financial year before the reduction bears to the sum of the pensions for that year before the reduction”.