100.—(1) The entitlement day for an early retirement pension is as follows.
(2) If a person (P) is not in eligible employment when P applies under regulation 159 for payment of the pension, the entitlement day is a day specified in P’s application which is at least 6 weeks after the day on which the application is made.
(3) If P is in eligible employment when P applies under regulation 159 for payment of the pension and P’s employer agrees that an early retirement pension should become payable to P, the entitlement day is the day after P leaves all eligible employment.
(4) If P is in eligible employment when P applies under regulation 159 for payment of the pension and P’s employer does not agree that an early retirement pension should become payable to P—
(a)if P continues in eligible employment for at least 6 months after the date on which P asks P’s employer to agree, the entitlement day is the day after P leaves all eligible employment;
(b)if P leaves all eligible employment before the end of 6 months after the date on which P asks P’s employer to agree, the entitlement day is a day specified in P’s application which is at least 6 weeks after the day on which the application is made.
(5) Despite paragraphs (2) to (4), the entitlement day must not be before the day on which P—
(a)reaches 55; or
(b)leaves all eligible employment.
101.—(1) A person (P) is entitled to payment of an early retirement pension from the entitlement day if—
(a)P has reached 55 but has not reached normal pension age;
(b)P is qualified or re-qualified for retirement benefits;
(c)P has left all eligible employment;
(d)P has applied under regulation 159 for the payment of an early retirement pension; and
(e)P has not applied under that regulation for payment of any other retirement pension.
(2) P is not entitled to payment of an early retirement pension in respect of any pensionable service after P reaches normal pension age.
(3) An early retirement pension is payable for life.
102. The annual rate of the early retirement pension payable to a person (P) is found by—
(a)taking the amount of full retirement earned pension specified in P’s pensioner member’s account;
(b)applying the standard reduction (if any) and the actuarial adjustment (if any) specified in that account in relation to that amount;
(c)adding the amount of full retirement additional pension (if any) specified in that account;
(d)applying the actuarial adjustment (if any) specified in that account in relation to that amount; and
(e)subtracting the commutation amount (if any) specified in that account in relation to the sum of those amounts.