SCHEDULE 2Pension schemes
Part 2Excepted rules, practices, actions and decisions relating to occupational pension schemes
F113
1
A minimum age for any active or prospective members of a scheme for payment of or entitlement to a particular age related benefit before the early retirement pivot age relevant to that age related benefit where—
a
the entitlement to the age related benefit at a minimum age applies to a member who is an active or prospective member of the scheme on 1st December 2006;
b
the age related benefit may be paid, at a minimum age, to the active or prospective member either with or without consent (whether of an employer, the trustees or managers of the scheme or otherwise); and
c
the age related benefit is enhanced in one or more of the ways specified in sub-paragraph (2).
2
For the purposes of sub-paragraph (1)(c) the specified ways are the enhancement of any age related benefit payable to or in respect of the member calculated in one or more of the following ways—
a
by reference to some or all of 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 applies; 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 active or prospective members.