SCHEDULE 1Scottish Parliamentary Pension Scheme
Part HEarly retirement
46Early retirement
1
An individual is eligible to take early retirement if the individual is—
a
55 or over but is not yet 65, and
b
neither an MSP nor the holder of a pensionable office.
2
An eligible individual may take early retirement by giving notice (an “early retirement notice”) to the Fund trustees.
3
Despite rule 37(1), an individual who takes early retirement is entitled to be paid his or her scheme pension from—
a
the date on which the early retirement notice is given, or
b
such later date as the individual may specify in the early retirement notice.
4
The annual scheme pension payable to an individual is to be reduced by the appropriate percentage.
“appropriate percentage” is calculated as follows—
5
The reduction in scheme pension is to continue to have effect after the individual reaches the age of 65.