Regulation 29 Calculation of “retirement index adjustment”I1

The retirement index adjustment for an amount of accrued pension is—

where—

• “amount of accrued pension” means an amount of any description of accrued pension; and

• “retirement index percentage” means the retirement index percentage calculated under paragraph (2) for that description of accrued pension.

The retirement index percentage is—

where—

• A means the in-service revaluation index that applies in relation to this scheme for the leaving year;

• B is the number of complete months in the period between the beginning of the leaving year and the end of the relevant last day; and

• “complete month” includes an incomplete month that consists of at least 16 days.