Part V Retirement Allowance
Social Security Contributions and Benefits Act 1992 (1992 c 4) | Legislation

Part V Retirement Allowance

13

(1)     Subject to the provisions of this Part of this Schedule, a person who—

(a)     has attained pensionable age; and

(b)     gives up regular employment on or after 10th April 1989; and

(c)     was entitled to reduced earnings allowance (by virtue either of one award or of a number of awards) on the day immediately before he gave up such employment,

shall cease to be entitled to reduced earnings allowance as from the day on which he gives up regular employment.

(2)     If the day before a person ceases under sub-paragraph (1) above to be entitled to reduced earnings allowance he is entitled to the allowance (by virtue either of one award or of a number of awards) at a weekly rate or aggregate weekly rate of not less than £2.00, he shall be entitled to a benefit, to be known as “retirement allowanceâ€.

(3)

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