Paragraph 4 Meaning of “leaver AP index adjustment”

(1)

The leaver AP index adjustment for an amount of accrued additional pension is calculated in accordance with paragraph (2).

(2)

The leaver AP index adjustment is an amount equal to the amount of leaver index adjustment found if—

(a)

the accrued additional pension were an accrued earned pension; and

(b)

1.5 is not added to the percentage increase or decrease in prices specified in an order F1(in respect of the NHS Pension Scheme 2015) made by the Treasury in Step 1 of paragraph 3(1).

Annotations

Textual amendments

F1: Words in Sch. 9 para. 4(2)(b) inserted (1.4.2023) by The National Health Service Pension Schemes (Amendment) Regulations 2023 (S.I. 2023/301), regs. 1(2), 17(4)