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The Police Service of Northern Ireland Reserve (Full-time) Severance Regulations 2006
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- Northern Ireland Statutory Rules
- 2006 No. 313
- PART 4
- Regulation 14
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Actuarially reduced pensions
14.—(1) A member who leaves the reserve service under the Scheme and is not immediately eligible to receive a pension, or payment in lieu of pension, may elect to receive an actuarially reduced pension.
(2) An actuarially reduced pension will be payable from the age of 50 to any member of the Scheme who so elects and who would be aged 50 or above on 6th April 2010.
(3) An actuarially reduced pension will be payable from the age of 55 to any member of the Scheme who so elects and to whom paragraph (2) does not apply.
(4) The amount to be paid will be calculated in accordance with a formula as advised by the Government Actuary from time to time.
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