Regulation 30 Amount of pension for a scheme yearI1

United Kingdom

(1)

This regulation applies in relation to every scheme year in which an active member’s account is open.

(2)

The active member’s account must specify the amount of standard earned pension for the scheme year.

(3)

The amount of earned pension for a scheme year is—

(a)

in relation to a member exercising the option mentioned in regulation 105 (rate of member contributions), 2.42% of the member’s pensionable earnings for that year; and

(b)

in relation to any other case, 2.5% of the member’s pensionable earnings for that year.

Annotations

Commencement

I1: Reg. 30 in force at 1.4.2022, see reg. 1(4)