6.—(1) In section 54(1) of the Contributions and Benefits Act (election to defer right to pension), in paragraph (a), omit from “but” to “70”
(2) In Schedule 5 to that Act—
(a)in paragraph 2(2), omit the definition of “the period of enhancement” (and the preceding “and”), and
(b)for “period of enhancement” (in every other place in paragraph 2 and 3 where it appears) substitute “period of deferment”.
(3) In paragraph 2(3) of that Schedule, for “1/7th per cent.” substitute “1/5th per cent.”.
(4) In paragraph 8 of that schedule, omit sub-paragraphs (1) and (2).
(5) Sub-paragraph (1) comes into operation on 6th April 2010; and sub-paragraphs (2) to (4) have effect in relation to incremental periods beginning on or after that date.