A member may retire from the Public Service of the Government of Swaziland if he has ten (10) years’ continuous service and has at least attained the age of forty five (45) years and such retirement shall be referred to as early retirement. The early retirement pension shall be computed in accordance with regulation 8(4), but reduced by one-third of one percent for each month by which the commencement date of the member’s pension precedes his:
(A) seventy-fifth birthday, in the case of a judge;
(B) sixtieth birthday, in the case of a member other than the one mentioned in (A).
If a member is promoted or demoted to a rank that has an effect on his retirement age such promotion or demotion shall as from the date of promotion or demotion be taken into account in determining the early retirement age of that member. Such member may defer payment of his early retirement pension to commence on the last day of any month between his date of retirement and the month of his sixty-fifth, sixtieth provided that the reduction will only be effected when payment of the pension commences.