Regulation 5 Early retirement

After Schedule 4 to the 1972 Act there shall be inserted:

“SCHEDULE 5

Section 7(4B)

Early retirement for certain Members after 2nd April 1991

1

The pension to which a person is entitled by virtue of section 7(4B)shall be abated, having regard to the person’s age and the length of hisqualifying period at the date of his application or, if later, suchother date as may be there specified, from the date from which thatpension is payable by the percentage specified in the table below.

2

The pension to which a person is entitled by virtue of section 7(4B)shall not be reduced below the rate of the guaranteed minimum pension,as provided for by Article 3 of the Parliamentary and other Pensions(Contracted-Out Provisions) Order 1978^f1.

Abatement by Single Percentage from Date Pension Payable

Qualifying period (years) Age
Age pension brought into payment	20 or more	19	18	17	16	15
Where the age or the qualifying period is not an exact number ofyears the percentage abatement shall be obtained by interpolating firstfor the required age and secondly for the required qualifying period.
65	0.0	0.0	0.0	0.0	0.0	0.0
64	0.0	0.0	0.0	0.0	0.0	7.0
63	0.0	0.0	0.0	0.0	7.0	13.7
62	0.0	0.0	0.0	7.0	13.7	19.9
61	0.0	0.0	7.0	13.7	19.9	25.6
60	0.0	7.0	13.7	19.9	25.6	30.8
59	7.0	13.7	19.9	25.6	30.8	35.6
58	13.7	19.9	25.6	30.8	35.6	39.9
57	19.9	25.6	30.8	35.6	39.9	43.7
56	25.6	30.8	35.8	39.9	43.7	47.0
55	30.8	35.6	39.9	43.7	47.0	50.0
54	35.6	39.9	43.7	47.0	50.0	52.8
53	39.9	43.7	47.0	50.0	52.8	55.4
52	43.7	47.0	50.0	52.8	55.4	57.7
51	47.0	50.0	52.8	55.4	57.7	59.8
50	50.0	52.8	55.4	57.7	59.7	61.8

”