Paragraph 1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 3 words substituted by Parliamentary Pensions 2006 reg. 5(5)(a)
Sch. 3 para. 6 words inserted by Parliamentary Pensions 2006 reg. 5(5)(b)
Sch. 3 para. 2(2)(ii) words substituted by Parliamentary Pensions 2006 reg. 15(7)(a)
Sch. 3 para. 4(1)(ii) words substituted by Parliamentary Pensions 2006 reg. 15(7)(b)
Sch. 3 para. 4(2)(ii)(b) words substituted by Parliamentary Pensions 2006 reg. 15(7)(b)

(1)

In this Schedule, unless the context otherwise requires—

“Class A participant”, “Class B participant” and “Class C participant” have the meanings assigned to them in Schedule 2;
“N” means in respect of the pension of a person, the period in years and any fraction of a year of his actual reckonable service before the relevant date or (if earlier) his sixty-fifth birthday;
“NS” means in respect of the pension of a person, the lesser of 40 years and the period in years and any fraction of a year of his prospective actual reckonable service at the relevant date;
“pension” means a pension, expressed as an annual amount, under Part F (pension entitlement), Part H (early retirement) or Part J (ill-health pensions) as the case may be; and “maximum pension” shall be construed accordingly;
“prospective actual reckonable service” means in respect of a person—
1. (a)
  
  at a date falling before his sixty-fifth birthday, his actual reckonable service before and after that date, assuming continuous actual reckonable service by him from that date until his sixty-fifth birthday;
2. (b)
  
  at a date falling on or after his sixty-fifth birthday, his actual reckonable service at his sixty-fifth birthday;
“retained benefits” has the meaning assigned to it in Schedule 2;
“retained lump sum benefits” means retained benefits which are payable as single payments whether by way of commutation of accrued pension rights, refund of contributions or otherwise;

(2)

Any reference in this Schedule to the beginning of a period of actual reckonable service of a person means any such beginning on his becoming a participant other than after an interval in his actual reckonable service occurring on a dissolution of Parliament.

(3)

Any reference in this Schedule to a person being or no longer being a participant shall be construed as a reference to whichever of those circumstances is applicable to the calculation of his pension.