The Transport Act 2000 (Civil Aviation Authority Pension Scheme) Order 2001

Service after Normal Pension Date

27.3—(a) The pension of a Member who is a Current Member of the CAA Section immediately before Normal Pension Date and whose Service continues beyond that date shall be postponed until the date of cessation of his Service (or, in the case of a Class A Member, his 75th birthday if earlier) provided that such a Member who is a Class B Member may by notice in writing to the Trustees elect to receive a cash sum in accordance with Rule 29.2 or to commence receiving his pension or the balance of it as appropriate at any date on or after Normal Pension Date but not later than the date of his actual retirement from Service. The amount of pension of a Member to whom this paragraph applies shall, subject to Appendix 4 and except as provided below in this Rule, be calculated in accordance with Rule 24.1 as at the date of its commencement or, if greater, but only in the case of a Member whose pension so calculated would have been 2/3rds of Final Pensionable Earnings, an amount of 2/3rds of Final Pensionable Earnings as at the later of the Member’s Normal Pension Date and the date of completion of the shortest period of Pensionable Service for which the pension calculated in respect of the Member under Rule 24.1 would be equal to 2/3rds of the Member’s Final Pensionable Earnings, with the addition of an amount determined by the Trustees with the advice of the Actuary having regard to the date of commencement of the pension and/or such other factors (if any) as the Actuary shall consider to be relevant. The amount of pension calculated in accordance with Rule 24.1 as aforesaid shall be reduced by the value, determined by the Trustees with the advice of the Actuary, of any benefit paid to the Member in accordance with the proviso above in this paragraph.