Regulation 68 Annual rate of retirement pension (active members)

Northern Ireland

(1)

This regulation applies when an active member of this scheme becomes entitled to the immediate payment of a retirement pension.

(2)

The annual rate of a retirement pension payable on the day following the last day of pensionable service to a member to whom this regulation applies is calculated by adding the total of F1paragraphs (a), (b), (ba) and (c) —

(a)

the sum of—

(i)

the amount of retirement earned pension specified in the member's retirement account,

(ii)

subtracting the commutation amount (if any) specified in that account in relation to that amount,

(iii)

subtracting the total allocation amount (if any) specified in that account in relation to that amount; and

(b)

the sum of—

(i)

the amount of retirement added pension (if any) specified in the member's retirement account,

(ii)

subtracting the commutation amount (if any) specified in that account in relation to that amount,

(iii)

subtracting the total allocation amount (if any) specified in that account in relation to that amount; and

F2(ba)

the sum of—

(i)

the equivalent amount to the NFPS lower tier ill-health pension (if any) or the equivalent amount to the FPS lower tier ill-health pension (if any) specified in the member’s retirement account,

(ii)

subtracting the commutation amount (if any) specified in that account in relation to that amount; and

(c)

the amount of the higher tier ill-health pension (if any) awarded to the member under regulation 73(2) (entitlement to lower tier ill-health pension and higher tier ill-health pension).

Annotations

Textual amendments

F1: Words in reg. 68(2) substituted (retrospective to 1.4.2015) by The Firefighters Pension Scheme (Transitional and Consequential Provisions) Regulations (Northern Ireland) 2015 (S.R. 2015/420), reg. 1(2), Sch. 1 para. 4(a)(i)
F2: Reg. 68(2)(ba) inserted (retrospective to 1.4.2015) by The Firefighters Pension Scheme (Transitional and Consequential Provisions) Regulations (Northern Ireland) 2015 (S.R. 2015/420), reg. 1(2), Sch. 1 para. 4(a)(ii)