Section 3: Retirement Reduction Factor
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
3. Retirement Reduction Factor
The contributory retirement pension calculated under paragraph 4 (1) shall
be reduced by a Retirement Reduction Factor of an amount equal to—
Share of pension produced by contributions accrued from 1 July 2008
multiplied by
The number of months from the sixtieth birthday to the month preceding the date of retirement age
multiplied by
0.45 %.