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Amendment of regulation 49 of the principal Regulations (Preserved pension)

6.  In regulation 49 (Preserved pension)—

(1) for paragraph (2) there shall be substituted the following paragraph:—

(2) The pension under this regulation will be calculated—

(a)where it becomes payable by virtue of paragraph (3)(d), in accordance with paragraphs (2) to (4) of regulation 16 (Early retirement pension (with actuarial reduction)), as if it were a pension under that regulation; and

(b)in any other case, as described in regulation 12 (Normal retirement pension)

and the retirement lump sum will be calculated as described in regulation 17 (Lump sum on retirement)..

(2) In paragraph (3) after sub-paragraph (c) there shall be inserted the following sub-paragraph:—

(d)the member—

(i)left superannuable employment on or after 30th June 2000,

(ii)has reached the age of 50, and

(iii)has applied to the Department for payment of the pension and retirement lump sum under this regulation..

(3) In paragraph (4) for the words from “authority)” to “the pension” there shall be substituted the following words:—