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4. (1) Regulation 4 of the Protected Rights Regulations(1) (conditions applying to pensions and annuities which give effect to protected rights) is amended as follows.
(2) In paragraph (1)(b), for paragraph (i) substitute—
“(i)is necessary to establish what the initial rate and the method of payment of the pension or annuity are to be;
(ia)ia)is necessary to establish that, throughout the lifetime of the member, the pension or annuity shall continue to be paid at a rate which is at least equal to (but may be more than) the initial rate and which, in the case of a specified pension or annuity falling within paragraph (3) or (6) or within section 51 or 162 of the Pensions Act 1995, is the rate determined in accordance with that paragraph or section;”.
(3) In paragraph (3), after the words “In the case of” insert “a specified pension or annuity which gives effect to”.
(4) In paragraph (6), after the words “In the case of” insert “a specified pension or annuity which gives effect to”.
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