Amendment of regulation 2.D.2
This section has no associated Explanatory Memorandum
23. In regulation 2.D.2 (pension credit members)—
(a)in paragraph (2) at the end, add (as full-out words) “This is subject to paragraphs (5) and (8).”;
(b)after paragraph (4), add—
“(5) A pension credit member who has not reached the age of 65 is entitled to immediate payment of a reduced pension payable for life if the pension credit member has—
(a)reached the age of 55, and
(b)claimed the payment of the pension.
(6) The amount of the annual pension under paragraph (5)—
(a)is first calculated as mentioned in paragraph (3) of this regulation, and
(b)then that amount is reduced by such amount as the Secretary of State determines, after consulting the Scheme actuary, to be appropriate by reason of the payment of the pension before the member reaches 65.
(7) A claim under paragraph (5) must be made by notice in writing in such form as the Secretary of State requires and takes effect from the date specified in the claim as the date on which the pension is to become payable.
(8) A pension credit member who has not reached the age of 65 is entitled to immediate payment of a pension payable for life if, in the opinion of the Secretary of State, the pension credit member—
(a)meets the ill-health condition specified in paragraph 1 of Schedule 28 to the 2004 Act,
(b)had previously been engaged in regular employment but is now permanently incapable of engaging in regular employment due to mental or physical infirmity, and
(c)has claimed the pension.
(9) The amount of the pension under paragraph (8) is calculated as specified in paragraph (3) of this regulation.
(10) For the purpose of paragraph (8), the Secretary of State may require whatever medical evidence that the Secretary of State considers necessary.”.