Pensions (Amendment) Act, 1996
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Amendment of section 2 of Principal Act. |
2.—Section 2 of the Principal Act is hereby amended by— | |
(a) the insertion after the definition of “auditor” of the following definition: | ||
“‘authorised person’ means a person authorised as an authorised person under section 18;”, | ||
(b) the substitution in the definition of “early retirement rule” (inserted by section 42 (b) of the Social Welfare Act, 1993 ) for paragraph (ii) of the following paragraph: | ||
“(ii) the calculation of the member's immediate retirement benefit involves or may involve an actuarial reduction which exceeds 0.25 per cent., or such other percentage as may be prescribed, multiplied by the number of completed months by which the member's age at retirement is less than a stated age;”, | ||
(c) the substitution in the definition of “normal pensionable age” (inserted by section 42 (d) of the Social Welfare Act, 1993 ) for paragraph (a) of the following paragraph: | ||
“(a) the earliest age at which a member of a scheme is entitled under the rules of the scheme (other than under any early retirement rule) to receive an immediate retirement benefit, or”, and | ||
(d) the substitution in the definition of “reckonable service” (inserted by section 42 (f) of the Social Welfare Act, 1993 ) for paragraph (a) of the following paragraph: | ||
“(a) the only benefit under the scheme in respect of such service is in respect of death prior to normal pensionable age, or”. |