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3. In regulation 154 (payment of benefits)(1)—
(a)in paragraph (1), for “A pension credit member” substitute “Subject to paragraph (4), a pension credit member”; and
(b)after paragraph (3), add—
“(4) A pension credit member may elect in writing to the appropriate administering authority for benefits payable under paragraph (1) to be paid at or after age 60 (but before normal benefit age), and such benefits must be reduced by the amounts as are shown to be appropriate in guidance issued by the Secretary of State.”.
Regulation 154 was inserted by S.I. 2000/3025 and saved from revocation by S.I. 2008/238.
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