E1.—(1) A member who retires from pensionable employment at any time on or after attaining age 60 shall be entitled to a pension under this regulation at a yearly rate of 1/80th of final year’s pensionable pay for each complete year of pensionable service, plus the relevant daily proportion of that rate for each additional day of such service.
(2) A member who stays in pensionable employment until age 70 shall be entitled to receive a pension under this regulation at that age even if he does not retire from such employment.