Regulation 2 Adjustment of Treasury valuation order

after the definition of “index adjustment” insert—

• “index supplement” means—

  1. (a)

     an amount of earned pension equal to the value of the index adjustment where the change in earnings for 2021 is increased by 0.2% above the amount specified in the Public Service Pensions Revaluation Order 2021^f2; and

  2. (b)

     the change in earnings for 2022 is increased by 0.4% above the amount specified in the Public Service Pensions Revaluation Order 2022^f3.”,

in paragraph (a) of the definition of “index adjustment” after “earnings” insert “and the index supplement”,

in the definition of “in-service revaluation index” at the end insert “and in this scheme, includes the index supplement in such earnings”.