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Reduction of Accrued Rights or Vested Benefits

Where any alteration to the terms of the scheme will be detrimental to the member (either to his accrued rights or his vested benefits under the scheme), such alteration must be consented to by not less than 90% of the scheme’s members. Members concerned may also elect to receive the vested benefits to which they are entitled as at the date of such alteration.

Last Revision Date: 06/10/2012