105(1)Any individual who is entitled to a guaranteed minimum pension under the scheme in respect of any transfer-in sum is, on attaining pensionable age, to be paid a pension for the rest of the individual’s life at a weekly rate of not less that his or her guaranteed minimum (if any) under sections 14 to 16 of the Pension Schemes Act 1993 (c. 48).
“pensionable age” is to be construed in accordance with paragraph (a) of the definition of that term in section 181 of the Pension Schemes Act 1993 (c. 48).
(2)The commencement of payment of a pension payable under this rule is to be postponed if the individual concerned is an MSP or the holder of a pensionable office on the day on which it becomes payable.
(3)Such a postponement is to last—
(a)until the earlier of—
(i)the day on which the individual is neither an MSP nor the holder of a pensionable office, or
(ii)the day falling 5 years after the first day of the postponement, or
(b)for such longer period as the individual may consent to.