Regulation 3 Amendment to the Occupational Pension Schemes (Preservation of Benefit) Regulations 1984

Regulation 7 of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1984^f1 (which makes general provision for the computation of benefit) is amended by inserting the following new paragraph after paragraph (4)–

“(4A)

A scheme may, for the purposes of any calculations made in accordance with paragraph 13(3) of Schedule 16, reckon both the following periods (or neither, but not only one) to the nearest, next highest or next lowest calendar month. The periods referred to are–

(a)

the period over which, on the assumption referred to in paragraph 13(3)(a) of Schedule 16, the credits would have accrued in full; and

(b)

the period between the time when the credits were awarded and the termination of the member’s pensionable service.”.