Early Benefits
11A A Member entitled to deferred benefits (see Rule 9 (Early Leavers)) may elect to receive his benefits on a date earlier than Minimum Pension Age (but not earlier than age 50). If a Member does not make a choice under this Rule 11 (Other Choices for Early Leavers) immediately on leaving Service, the agreement of the Trustee is required.
The benefits shall be reduced as set out in Schedule 8.
If an election under this Rule would result in the pension payable to the Member being less than the aggregate of:
(i)the State Graduated Retirement Benefit; and
(ii)whichever is the lesser on the date the pension would become payable of the Contracted–out Pension and the Forecast GMP,
the election shall not be permitted.
The Trustee must be reasonably satisfied that the reduced benefits are at least equal in value to the deferred benefits (including future increases) that would otherwise have been provided under Rule 9 (Early Leavers).