Amendment of Part IV
This section has no associated Explanatory Memorandum
5.—(1) Part IV (Contracting-out requirements) is amended as provided by paragraphs (2) and (3).
(2) After paragraph (3)(c) of regulation 42 (Contracting-out conditions to be overriding), insert—
“(ca)“guaranteed minimum pension age” means age 65 in the case of a man or age 60 in the case of a woman;”.
(3) For “State pension age” substitute “guaranteed minimum pension age”, in—
(a)paragraphs (2) and (7)(a) of regulation 43 (Guaranteed minimum pensions),
(b)regulation 44 (Late retirement),
(c)paragraph (1) of regulation 45 (Early leavers) (three times),
(d)paragraphs (1), (2) and (3) of regulation 46 (Guaranteed minimum pensions transferred to this Section of the scheme).