Regulation 54 Provisional amount of deferred pensionI1

England and Wales

(1)

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

(2)

The provisional amount of deferred pension is the sum of—

(a)

the amount of accrued earned pension calculated under regulation 32(3) (calculation of amount of accrued pension for purposes of deferment or retirement) (“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 the amount of accrued earned pension if a transfer payment in respect of the member’s rights to that accrued earned pension was made before the end of the last active scheme year.

(4)

The assumed age addition applies in relation to a member who reaches normal pension age under this scheme not less than one month before the last day of pensionable service.

Annotations

Commencement

I1: Reg. 54 in force at 1.4.2015, see reg. 1(2)