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SCHEDULE 2Pension schemes

Part 2Excepted rules, practices, actions and decisions relating to occupational pension schemes

Age related rules, practices, actions and decisions relating to benefit

12.  A minimum age for entitlement to or payment of any age related benefit to a member, provided that, in the case of any age related benefit paid under a defined benefits arrangement before any early retirement pivot age—

(a)such benefit is subject to actuarial reduction for early receipt, and

(b)the member is not credited with additional periods of pensionable service.