Amendment of regulation 117
This section has no associated Explanatory Memorandum
29.—(1) Regulation 117 (Reduction of pension) is amended as provided by paragraphs (2) and (3).
(2) In paragraphs (1) and (2) for “scheme year” substitute “financial year”.
(3) For paragraphs (6) and (7) substitute—
“(6) For the purpose of calculating the reduction to be made under paragraph (1) in respect of any part of a financial year, the amount of the member’s previous pay will be reduced proportionately.”.