12. In regulation 18 (flexible retirement)—
(a)in paragraph (1), for “and the authority may pay those benefits”, substitute “and such benefits may, with his employer’s consent, be paid”.
(b)in paragraph (4), for “In”, substitute “Subject to paragraph (4A), in”.
(c)after paragraph (4), insert—
“(4A) Paragraph (4) only applies to a member whose employment has been continuous with that same employer throughout that period.
(4B) For the purposes of paragraph (4A), the employment of a member who has been the subject of a transfer to which the Transfer of Undertakings (Protection of Employment) Regulations 2006 apply shall be treated as being continuous employment with the transferee employer.”.
(d)for paragraph (5), substitute—
“(5) The value of any benefits paid to a member under paragraph (1) shall be taken into account in any subsequent calculation of his benefits under regulation 16, 17, 19, 20, 30 or 31 in accordance with guidance issued by the Government Actuary.”.