Regulation 18 Abatement of retirement pension

in paragraph (1)(a) there shall be inserted after the words “but for his having made an election under regulation B6” the words “or but for regulation B5(5)”;

in paragraph (2)(b) there shall be inserted after “case” the words “and subject to paragraph (7)”;

in paragraph (4) in the definition of “B” after “pension” there shall be inserted the words “disregarding any actuarial reduction required by regulation E6(4) (actuarial reduction of pension on early retirement)”; and

there shall be added at the end the following paragraph:–

“(7)

Where regulation E6(4) applies (actuarial reduction of pension on early retirement) the amount (if any) by which the annual rate of the pension is to be reduced under paragraph (2)(b) shall be the amount (if any) referred to in that sub-paragraph multiplied by the appropriate factor.”.