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Regulation 7 Annual rate of pension

Original text. Later amendments are not shown.

The annual rate of pension payable to a person to whom section 2(2) or (4) applies shall be calculated, as at the date of retirement, in accordance with the formula

[A+(B/365×(C-A))]×

the appropriate annual rate attributable to the person where—

a

  • A is the actuarial reduction factor set out in the Table in the Schedule to these Regulations (“the Table”) appropriate to the age of the member at his last birthday;

    • b

  • B is the number of days between the exact age of the member and his age last birthday; and

    • c

  • C is the actuarial reduction factor set out in the Table appropriate to the member at his age next birthday.