Regulation 60 Amount of retirement earned pension and retirement added pensionI1

Scotland

(1)

The retirement account must specify the amount of retirement earned pension and retirement added pension.

(2)

The amount of retirement earned pension is the sum of—

(a)

the amount of accrued earned pension calculated under regulation 36 (“accrued amount”);

(b)

the retirement index adjustment for the accrued amount; and

(c)

the assumed age addition (if any) for the accrued amount.

(3)

The amount of a description of retirement added pension (if any) is the sum of—

(a)

the amount of the relevant accrued added pension calculated under regulation 36 (“accrued amount”);

(b)

the retirement PIA index adjustment for the accrued amount; and

(c)

the assumed age addition (if any) for the accrued amount.

(4)

For each amount of retirement earned pension and retirement added pension, the retirement account must specify—

(a)

the early payment reduction (if any); and

(b)

the commutation amount (if any).

(5)

In this regulation, “relevant accrued added pension” means—

(a)

for a retirement added (self only) pension, accrued added (self only) pension; and

(b)

for a retirement added (all beneficiaries) pension, accrued added (all beneficiaries) pension.

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