Regulation 44 Provisional amount of deferred pension

(1)

The deferred member’s account must specify the provisional amount of each description of deferred pension.

(2)

The provisional amount of each description of deferred pension is the sum of—

(a)

the amount of the relevant accrued pension calculated under regulation 32 (“accrued amount”);

(b)

the retirement index adjustment for the accrued amount; and

(c)

the assumed age addition (if any) for the accrued amount.

(3)

The retirement index adjustment is not applied in relation to an amount of accrued pension if a transfer value payment was made before the end of the last active scheme year in respect of the member’s rights to that accrued pension.

(4)

In this regulation, “relevant accrued pension” means—

(a)

for a deferred standard earned pension, accrued standard earned pension;

(b)

for a deferred earned pension attributable to an effective pension age option, accrued earned pension attributable to that option;

(c)

for a deferred added (self only) pension, accrued added (self only) pension; and

(d)

for a deferred added (all beneficiaries) pension, accrued added (all beneficiaries) pension.