Regulation 53 Effect of increases under this Chapter for older membersI1

England, Wales and Scotland Not yet in force

(1)

This regulation applies where a member–

(a)

is entitled under this Chapter to count an additional period as a period of membership; and

(b)

was aged at least 45 on the first day of the earliest period of membership he is entitled to count.

(2)

Where this regulation applies, the retirement pension–

(a)

to which the member would otherwise be entitled under regulation 24; or

(b)

to which he would otherwise be entitled under regulation 30 (before applying any reduction under paragraph (4) of that regulation),

is increased by adding to it an amount which equals–

\frac{the member's final pay \times length of additional period (in years)}{240} .

(3)

The additional period does not count in the calculation of the standard retirement grant.

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