90.—(1) A person (P) is entitled to payment of a phased retirement earned pension from the entitlement day if—
(a)P has reached 55 but has not reached 75;
(b)P is qualified or re-qualified for retirement benefits;
(c)P meets the reduced annual rate condition or the new employment condition;
(d)P has made a phased retirement application; and
(e)P has not applied under regulation 159 for payment of any other retirement pension.
(2) P is entitled to payment of a phased retirement additional pension from the entitlement day if P has applied under regulation 91 to receive an additional pension with the phased retirement earned pension.
(3) Subject to regulation 94, a phased retirement pension is payable for life.