# The Local Government Pension Scheme (Transitional Provisions, Savings and Amendment) Regulations 2014, Regulation 4K: Statutory underpin: calculation of final assumed benefits


(1) An eligible member’s final assumed benefits are calculated by adjusting their provisional assumed benefits at the eligible member’s final underpin date in accordance with this regulation.
(2) Where the eligible member’s underpin date is not the same date as their final underpin date, apply any revaluation adjustment or index rate adjustment to provisional assumed benefits that would have applied to a deferred benefit in the 2014 Scheme as if the last day of scheme membership was the underpin date.
(3) Where regulation 30(4) of the 2013 Regulations (pension taken later than normal pension age) applies to the eligible member, apply the enhancement as set out in that provision to provisional assumed benefits.
(4) Where regulation 30(5) (pension taken earlier than normal pension age) or (6) (pension by virtue of flexible retirement) of the 2013 Regulations applies to the eligible member and their benefits under the 2014 Scheme are being reduced as set out in that provision, apply an equivalent reduction to provisional assumed benefits.
(5) Where paragraph (4) applies, also reflect in the reduction such transitional provisions under Schedule 2 as apply (if any).
(6) Where—
(a) the eligible member’s provisional assumed benefits include any additional pension under regulation 16 of the 2013 Regulations;
(b) the member is taking payment of their pension before the normal pension age applicable to them under the 2014 Scheme; and
(c) regulation 30(7)(a) of the 2013 Regulations (pension by virtue of dismissal from employment) applies to reduce the amount of pension payable,
the additional pension referred to in sub-paragraph (a) is also to be reduced in accordance with regulation 30(7)(a) of the 2013 Regulations.
(7) This regulation is subject to regulation 4N (statutory underpin: effect of uplift of Tier 3 benefits to Tier 2 benefits).

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Source: https://www.legislation.gov.uk/uksi/2014/525/regulation/4K (the official version)
Page: https://openlegislation.uk/local-government-pension-scheme-transitional-provisions-savings-and-amendment-regulations-2014/regulation-4K
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.