Regulation 37 Calculation of “retirement index adjustment”I1

The retirement index adjustment for an amount of accrued earned pension is—

where—

• “amount of accrued earned pension” means an amount of any description of accrued earned pension; and

• “retirement index percentage” means the retirement index percentage calculated under paragraph (2) for that description of accrued earned pension.

The retirement index percentage is—

where—

• A means—

  1. (a)

     for accrued club transfer earned pension, the in-service revaluation index that applies in relation to the sending scheme for the leaving year; and

  2. (b)

     for accrued standard earned pension, the F1index adjustment that applies in relation to this scheme for the leaving year;

• B is the number of complete months in the period between the beginning of the leaving year and the end of the last day of pensionable service; and

• “complete month” includes an incomplete month that consists of at least 16 days.