Regulation 48 Annual rate of full retirement pension (deferred members)I1

United Kingdom

(1)

This regulation applies when a deferred member of this scheme becomes entitled to the immediate payment of a full retirement pension in respect of a particular office.

(2)

The annual rate of full retirement pension payable to the member is calculated by—

(a)

taking the provisional amount of deferred pension specified in the deferred member’s account;

(b)

adding the late payment supplement (if any) specified in that account in relation to that provisional amount;

(c)

subtracting the early payment reduction (if any) specified in that account in relation to that amount;

(d)

subtracting the commutation amount (if any) specified in that account in relation to that amount; and

(e)

subtracting the total allocation amount (if any) specified in that account in relation to that amount.

(3)

Where a member holds multiple accounts in respect of multiple assignments within the First-tier Tribunal or the Upper Tribunal, paragraph (2) applies in respect of each account held.

Annotations

Commencement

I1: Reg. 48 in force at 1.4.2022, see reg. 1(4)