Article 6 Office holder's requisite benefits
Subject to paragraph (4), as from his attainment of pensionable age an office holder shall be entitled to a pension under the scheme for his life.
Subject to paragraph (3), the annual rate of the office holder's pension under paragraph (1) shall be 1¼ per cent. of his final salary multiplied by the number of years of relevant service completed by him before he attained pensionable age.
Paragraph (2) shall not apply in relation to an office holder—
who ceases to hold office before normal pension age, and
who has completed less than five years qualifying service for the purposes of Schedule 16 to the Social Security Act 1973 (preservation).
Any part of the pension under paragraph (1) in excess of the office holder's guaranteed minimum shall be postponed for any period for which he continues in employment (whether or not employment to which the scheme relates) after attaining pensionable age.