2.K.9.—(1) This regulation applies to a 2008 Section Optant—
(a)whose earnings in respect of pensionable employment in the 1995 Section were reduced;
(b)whose employer certified that the reduction in sub-paragraph (a) occurred in the circumstances described in regulation R8(2) (members whose earnings are reduced) of the 2011 Regulations;
(c)who, subject to the agreement of the Scottish Ministers, would, on retirement or death, have become entitled to have a preserved pension calculated and paid as described in regulation E12 (preserved pension) of the 2011 Regulations in respect of pensionable service in the 1995 Section before the Optant’s earnings were reduced; and
(d)whose benefits on retirement or death would, but for this regulation, be calculated in accordance with Chapter 2.D and 2.E.
(2) Subject to paragraph (3), for the purpose of calculating the benefits on retirement or death of a 2008 Section Optant referred to in paragraph (1), the Optant may, where it would be more beneficial to the Optant be treated—
(a)as a deferred member of this Section of the scheme in respect of any period of pensionable service credited to the Optant under regulation 2.K.3 that relates to one or more periods of pensionable service in the 1995 Section before that Optant’s earnings were reduced as described in paragraph (1) (“a protected service credit”); and
(b)as if the Optant became an active member for the first time on the first day of any period of pensionable service credited to that Optant under regulation 2.K.3 that relates to a period of pensionable service in the 1995 Section after that Optant’s earnings were reduced as described in paragraph (1).
(3) The Optant’s benefits in respect of a protected service credit mentioned in paragraph (2)(a) must be calculated—
(a)separately; and
(b)by reference to the final year’s pensionable pay calculated in accordance with regulation C1 (meaning of “pensionable pay”) of the 2011 Regulations in respect of that particular period.