PART 3Amendment of the FAS Regulations

Amendment of Part 1

5.  After paragraph (1) of regulation 2 (interpretation) insert—

(1A) In these Regulations, “normal retirement age” means, subject to paragraph (1B), in relation to a member of an occupational pension scheme, the age specified in the rules of that scheme at which that member will normally retire.

(1B) Where the normal retirement age—

(a)determined in accordance with paragraph (1A) is—

(i)more than 65, that age shall be 65;

(ii)less than 60, that age shall be 60 except for the purposes of paragraph 2(3)(a) of Schedule 2;

(b)cannot be determined in accordance with paragraph (1A) from the rules of the qualifying pension scheme, that age shall be such age as the scheme manager shall determine having regard to the rules of that scheme and to such other information as he considers relevant..