122.—(1) This regulation provides for the application of this Chapter where a person is entitled to more than one old service pension falling within regulation 115(1)(c) in any [F1financial year] .
(2) In regulation 117—
(a)for paragraphs (1) and (2) substitute—
“(1) If the condition in paragraph (2) is met, the amount of the old service pensions for any [F1financial year] is reduced.
(2) The condition is that the employed pensioner's relevant income for the [F1financial year] exceeds the employed pensioner's previous pay for all the old employments.
(2A) The amount of the reduction under paragraph (1) in the case of each of the pensions is equal to the same proportion of that excess as the amount of the pension for the [F1financial year] before the reduction, bears to the sum of the pensions for that year before the reduction”.
(3) In regulation 118(1)(b) for “the old service pension” there shall be substituted “ all the old service pensions ”.
(4) Regulation 123 applies as if references to the old service pensions were references to all those pensions.
Textual Amendments
F1Words in reg. 122 substituted (retrospective and with effect in accordance with reg. 1(2) of the amending Rule) by The Health and Personal Social Services (Superannuation Scheme and Additional Voluntary Contributions), Health and Social Care (Pension Scheme) (Amendment) Regulations (Northern Ireland) 2013 (S.R. 2013/259), regs. 1(2), 33