8.—(1) Regulation K4 (early leavers) is amended as follows.
(2) For paragraph (1), substitute—
“(1) This paragraph applies if a member who is under guaranteed minimum pension age either—
(a)leaves contracted-out employment under this Section of the scheme before 6th April 2016, or
(b)was in contracted-out employment under this Section of the scheme on 5th April 2016 but leaves pensionable employment on, or after, 6th April 2016.
This is subject to paragraph (2).
(1A) Where paragraph (1) applies the member’s guaranteed minimum pension at the date of leaving will be increased, when the member reaches guaranteed minimum pension age or dies (if earlier), by the appropriate percentage specified in relation to each relevant year in the last order under section 148 of the Social Security Administration Act 1992 (revaluation of earnings factors) to come into force before the tax year in which the member reaches guaranteed minimum pension age or dies (if earlier).”.
(3) In paragraph (3), for “If a member returns to contracted-out employment under this Section of the scheme within 6 months after leaving, the two periods of contracted-out” substitute “If a member to whom paragraph (1) applies returns to pensionable employment under this Section of the scheme within 6 months after leaving, the two periods of”.