Self-annuitising hybrid schemesN.I.

6.—(1) The hybrid schemes specified by this rule are schemes under which—

(a)the rate or amount of pensions or other benefits to be paid to or in respect of members on or after their retirement at the normal pension age will be calculated wholly by reference to a payment or payments made by the member or by another person in respect of the member (or transfers or other credits), and

(b)a number of the pensions or other benefits provided to members on or after their retirement at the normal pension age shall be paid from the scheme's resources.

(2) In the application of section 24(1) to a relevant scheme, apply the paragraph (a) quality requirements.