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Regulation F5 Permitted maximum pensions: pensioners who joined before 1st June 1989

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • The annual amount of the pension payable under regulation F1 or regulation F3 to a person who became a participant before 1st June 1989 shall not exceed whichever is the less of—

    1. (a)

      the amount equal to two-thirds of the multiple; or

    2. (b)

      such maximum pension as is calculated in respect of that person in accordance with the provisions of Schedule 2,

    except to the extent that it is calculated by reference to so much (if any) of that person’s actual period of reckonable service as a participant as fell after he attained the age of sixty-five years.