Regulation 3 Method of calculation where no election to pay a contributions equivalent premium may be made

in the case of a man (other than a surviving spouse member F1or surviving civil partner member) who has not attained pensionable age on the effective date—

• X × Factor A × 52 × market level indicator

• plus

• (y₁ × Factor B1 + y₂ × Factor B2) × 52 × market level indicator

• plus

• (z₁ × Factor C1 + z₂ × Factor C2) × 52 × market level indicator;

in the case of a woman (other than a surviving spouse member or surviving civil partner member) who has not attained pensionable age on the effective date—

• X × Factor D × 52 × market level indicator

• plus

• (y₁ × Factor E1 + y₂ × Factor E2) × 52 × market level indicator

• plus

• (z₁ × Factor F1 + z₂ × Factor F2) × 52 × market level indicator;

in the case of a man (other than a surviving spouse member or surviving civil partner member) who has attained pensionable age on the effective date—

• X × Factor G × 52 × market level indicator

• plus

• (y₁ + y₂) × Factor H × 52 × market level indicator

• plus

• (z₁ + z₂) × Factor I × 52 × market level indicator;

in the case of a woman (other than a surviving spouse member or surviving civil partner member) who has attained pensionable age on the effective date—

• X × Factor J × 52 × market level indicator

• plus

• (y₁ + y₂) × Factor K × 52 × market level indicator

• plus

• (z₁ + z₂) × Factor L × 52 × market level indicator;

in the case of a man who is a surviving spouse member or surviving civil partner member—

• X × Factor M × 52 × market level indicator

• plus

• (z₁ + z₂) × Factor N × 52 × market level indicator;

in the case of a woman who is a surviving spouse member—

• X × Factor O × 52 × market level indicator

• plus

• (y₁ + y₂) × Factor P × 52 × market level indicator

• plus

• (z₁ + z₂) × Factor Q × 52 × market level indicator;

in the case of a woman who is a surviving civil partner member—

plus

the amount of each factor shall be—

for Factors A to F2, the amount derived from the relevant Table in Schedule 1, being the amount shown for the factor in the column below the relevant tax year, in relation to the tax year in which the member was born, as specified in the first column of that Table;

for Factors G to Q, the amount shown in the column below the relevant factor, in whichever of Tables 11 and 12 in Schedule 1 is applicable, in relation to the age attained by the member in the relevant tax year as specified in the first column of that Table.

“the relevant weekly amount" is the weekly amount, determined by the Secretary of State, representing—

and, for the purposes of determining those weekly amounts, except where such provision made by the scheme as is mentioned in section 16(2) of the 1993 Act (revaluation of earnings factors: early leavers) applies, the earner’s earnings factors shall be taken to have been increased by reference to the last order under section 148 of the Social Security Administration Act 1992 M2 to come into force before the end of the tax year preceding the relevant tax year;

full revaluation applies where, for the purposes of determining the relevant weekly amount, the earner’s earnings factors are taken to have been increased in accordance with sub-paragraph (b);

limited revaluation applies where the relevant weekly amount has been determined in accordance with any provision made by the scheme under subsection (3) of section 16 of the 1993 Act M3 (as in force immediately before 6th April 1997) not conforming with the additional requirements referred to in that subsection;

fixed revaluation applies where the relevant weekly amount has been determined in accordance with such provision as is mentioned in that subsection as in force immediately after 5th April 1997; and

the market level indicator is the amount calculated in accordance with regulation 4 below.

the weekly amount of additional pension to which the member would be entitled in respect of the relevant employment after 5th April 2002 (whether by virtue of his own contributions or, in the case of a surviving spouse member or surviving civil partner member, by virtue of the earner’s contributions) if the scheme had not been a contracted-out scheme, less the weekly amount of any such pension to which he is so entitled despite F7the scheme having been such a scheme; or

the weekly amount of additional pension to which the member would have become so entitled on attaining pensionable age if the scheme had not been such a scheme, less the weekly amount of any such pension to which he will be so entitled despite F8the scheme having been such a scheme.