112.—(1) The Committee must formulate and keep under review its policy concerning abatement (that is, the extent, if any, to which the amount of retirement pension payable to a member from the fund maintained by it under the Scheme should be reduced (or whether it should be extinguished) where the member has entered a new employment with a Scheme employer).
(2) Before formulating that policy the Committee must consult with employing authorities.
(3) Before the expiry of the period of four months beginning with the commencement date, the Committee shall publish a statement as to the policy which is being applied by it where a member who is so entitled enters such a new employment on or after that date.
(4) Where, as a result of reviewing its policy concerning abatement, the Committee determines to amend it, it must publish a statement of the amended policy before the expiry of the period of one month beginning with the date it determines to do so.
(5) In formulating its policy concerning abatement, the Committee must have regard to –
(a)the level of potential financial gain at which it wishes abatement to apply;
(b)the administrative costs which are likely to be incurred as a result of abatement in the different circumstances in which it may occur; and
(c)the extent to which a policy not to apply abatement could lead to a serious loss of confidence in the public service.
(6) In paragraph (5)(a) the reference to financial gain is a reference to the financial gain which it appears to the Committee may be obtained by a member as a result of his entitlement both to a pension and to pay under the new employment.