17AGOperative time during growth phase—reduction of associate deferred pension

17AG Operative time during growth phase—reduction of associate deferred pension

If: (a) at the operative time, a standard pension is not payable in respect of the original interest; and (b) the original interest is an entitlement to an associate deferred pension; the annual rate of the associate deferred pension (when it becomes payable) is reduced to the amount calculated under the Pension Orders.

Note: Although an associate immediate pension becomes payable at the operative time, an associate deferred pension will often not become payable until some time after the operative time.