Entitlement to pension credit retirement pension
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152.—(1) A pension credit member (P) is entitled to payment of a pension credit retirement pension from the entitlement day if P has applied under regulation 159 for payment of the pension.
(2) If P is entitled to 2 or more pension credits—
(a)benefits are payable to P under this scheme as if P were 2 or more members, each being entitled to one of the pension credits; and
(b)the amounts payable are determined accordingly.
(3) A pension credit retirement pension is payable for life.