SCHEDULE 2Pension schemes
Part 2Excepted rules, practices, actions and decisions relating to occupational pension schemes
F113B
1
A minimum age for any member of a scheme for payment of or entitlement to a particular age related benefit on the grounds of redundancy where it is enhanced in accordance with sub-paragraph (2) and paid either with or without consent (whether of an employer, the trustees or managers of the scheme or otherwise).
2
The enhancement of any age related benefit payable to or in respect of a member on the grounds of redundancy where the enhancement is calculated in one or more of the following ways—
a
by reference to the years of prospective pensionable service a member would have completed if he had remained in pensionable service until normal pension age;
b
by reference to a fixed number of years of prospective pensionable service;
c
by making an actuarial reduction which is smaller than if early retirement had been on grounds to which paragraph 12 applied; or
d
by not making any actuarial reduction for early retirement.
3
Sub-paragraph (1) shall also apply to different minimum ages for different groups or categories of members.