25. After regulation 30, insert—
30A.—(1) Where a member who is treated as a pensioner member with deferred benefits under regulation 20(9) (“a regulation 20(9) member”), has reached the Scheme’s normal retirement age, he or she is entitled to immediate payment of his or her retirement pension without reduction.
(2) Subject to paragraphs (3) and (4), a regulation 20(9) member may upon reaching the age of 55, choose to receive payment of his or her retirement pension immediately.
(3) A choice made by a member aged less than 60 is ineffective without the consent of the member’s former employing authority.
(4) Subject to paragraph (5), the member’s pension must be reduced by the amounts shown as appropriate in guidance issued by the Government Actuary.
(5) The member’s former employing authority may determine on compassionate grounds that the member’s retirement pension should not be reduced under paragraph (4).”.