9. In regulation 150 (“appropriate rights”/“pension credit benefits” under the scheme)—
(a)in paragraph (5), for “A pension credit member” substitute “Subject to paragraph (7), a pension credit member”; and
(b)after paragraph (6), insert—
“(7) A pension credit member may elect in writing to the appropriate administering authority for benefits payable under paragraph (5) to be paid at or after age 60 (but before normal benefit age), and the appropriate administering authority shall commence payment of such benefits in accordance with the election but the benefits must be reduced by the amounts as are shown to be appropriate in guidance issued by the Government Actuary’s Department.”.