The Local Government Pension Scheme (Transitional Provisions, Savings and Amendment) Regulations 2014

1.—(1) Paragraph 1(3) applies where a member of the description in paragraph 3(1) or (2) makes a request to receive immediate payment of retirement benefits under—

(a) regulations 30(1) (choice of early payment of pension) or 30A (choice of payment of pension: pensioner member with deferred benefits)(1) of the Benefits Regulations;

(b) regulation 30(5) (retirement benefits: early retirement) of the 2013 Regulations if the member was aged 60 or over at the date of making the request;

(c) regulation 30(5) (retirement benefits: early retirement) of the 2013 Regulations if the member is aged 55 or over but aged under 60 at the date of making the request and the Scheme employer agrees that paragraph 1(3) of this Schedule should apply; or

(d) regulation 30(6) (retirement benefits: flexible retirement) of the 2013 Regulations.

(2) Paragraph 1(4) applies where paragraph 1(1)(c) would otherwise apply, but the member’s Scheme employer does not agree that paragraph 1(3) of this Schedule should apply.

(3) Where this sub-paragraph applies—

(a) if the member satisfies the 85 year rule, that part of the member’s retirement benefits which is calculated by reference to any period of membership before the relevant date shall not be reduced in accordance with regulations 30(4) or 30A(4) of the Benefits Regulations or regulation 30(5) or (6) of the 2013 Regulations; and

(b) if the member does not satisfy the 85 year rule, that part of the member’s retirement benefits which is calculated by reference to any period of membership before the relevant date is reduced by reference to the period between the date of the request and the date the member would satisfy the 85 year rule, or age 65 if earlier.

(4) Where this sub-paragraph applies—

(a) if the member satisfies the 85 year rule, that part of the member’s benefits which is calculated by reference to any period of membership before the relevant date is reduced by reference to the period between the date of the request and age 60; and

(b) if the member does not satisfy the 85 year rule, that part of the member’s benefits which is calculated by reference to any period of membership before the relevant date is reduced by reference to the period between the date of the request and the date the member would satisfy the 85 year rule, or age 65 if the member would not satisfy the 85 year rule before that time, or age 60 if later.

(5) In this Schedule, references to a Scheme employer are to be read as including a former employer which is a Scheme employer, or where a member’s employer or former employer has ceased to be a Scheme employer, the appropriate administering authority.

(1)

Regulation 30A was inserted by S.I. 2010/2090.