SCHEDULE 2Pension schemes
Part 2Excepted rules, practices, actions and decisions relating to occupational pension schemes
Age related rules, practices, actions and decisions relating to benefitF112
1
Subject to sub-paragraph (4), a minimum age for any member of a scheme to be entitled to a particular age related benefit that is paid in accordance with sub-paragraph (2) and is paid—
a
either with or without consent (whether of an employer, the trustees or managers of the scheme or otherwise), and
b
before the early retirement pivot age relevant to that age related benefit.
2
The age related benefit must—
a
be actuarially reduced on the basis that the aim is to reflect that it is paid on a date before the applicable early retirement pivot age; and
b
not be enhanced by crediting the member with any additional periods of pensionable service or additional benefits.
3
Sub-paragraph (1) shall also apply to different minimum ages for different groups or categories of members.
4
Sub-paragraph (1) shall not apply to any member who retires on the grounds to which paragraph 13, 13A or 15 apply.