5. In regulation 49 of the principal Regulations (Preserved pension) –
(1) At the beginning of paragraph (4), there shall be inserted the words “Except in a case to which paragraph (4A) applies,”;
(2) After paragraph (4) there shall be inserted the following paragraphs –
“(4A) Paragraph (4) may not apply where the HPSS employment which the member is in when he reaches age 60 is employment into which he has been transferred as a result of an undertaking to the employer.
(4B) Where the member receives a pension under paragraph (1) while being in the new employment to which paragraph (4A) applies –
(a)his benefits in respect of any superannuable service in that new employment shall be calculated without any regard to any superannuable service in any earlier employment;
(b)for the purposes of regulation 4 (Meaning of “superannuable service”) and regulation 10(3) and (4) (Contributions by members), his service in the earlier employment and in the new employment shall be aggregated.”.