Retirement benefits varied at pensionable age E+W+S

9.—(1) This regulation applies where—

(a) a scheme provides that the pension or other retirement benefit payable under the scheme to a member at normal pension age is to be varied at pensionable age, and

(b) that benefit is subject to revaluation by [F1 the final salary method, within the meaning of paragraph 1 of Schedule 3 to the Act].

(2) [F2 Paragraph 1 of Schedule 3 to the Act] is modified so that, when the pension or other retirement benefit payable under the scheme is varied, there is a corresponding variation in the F2 ...amount to be added to the benefit.

Textual Amendments

F1 Words in reg. 9(1)(b) substituted (12.5.1994) by The Occupational and Personal Pension Schemes (Consequential Amendments) Regulations 1994 (S.I. 1994/1062), reg. 1(2), Sch. 2 para. 31(9)(a)

F2 Words in reg. 9(2) substituted and omitted (12.5.1994) by virtue of The Occupational and Personal Pension Schemes (Consequential Amendments) Regulations 1994 (S.I. 1994/1062), reg. 1(2), Sch. 2 para. 31(9)(b)