22.—(1) The preservation requirements are modified as described in this regulation where—
(a)a scheme provides for payment of long service benefit to be postponed, or suspended, for any period after normal pension age during which the member is in service in relevant employment (whether or not that service qualifies the member for additional benefits under the scheme); and
(b)a member continues in, or returns to, service in relevant employment after becoming entitled to short service benefit under the scheme.
(2) The scheme may provide for payment of short service benefit to be postponed, or suspended, for any period after normal pension age during which the member is in service in relevant employment. [F1Section 71(3) of the Act] is modified accordingly.
Textual Amendments
F1Words in reg. 22(2) substituted (12.5.1994) by The Occupational and Personal Pension Schemes (Consequential Amendments) Regulations 1994 (S.I. 1994/1062), reg. 1(2), Sch. 2 para. 30(21)