Schedule 1Rates of Pension Under Section 1 of Clergy Pensions Measure 1961

Part IIIRate where scheme member retires not more than five years before reaching retiring age otherwise than by reason of infirmity

7The rate of pension of a scheme member who, otherwise than by reason of infirmity, retires before attaining the retiring age but not more than five years before he would have attained that age shall be calculated by—

(a)ascertaining the rate of pension to which he would have been entitled under Part I of this Schedule if he had attained the retiring age on the date on which his pension begins to be payable, and

(b)deducting therefrom such amount as the Board, after obtaining the advice of an actuary, may with the concurrence of the Commissioners determine.