Regulation 170 Conversion amount

(1)

Paragraph (2) applies for the purpose of calculating the annual rate of pension payable to a member (P) who receives a lump sum under regulation 168.

(2)

The conversion amount is—

\frac{1}{12} \times a m o u n t o f t h a t l u m p s u m .

(3)

If a retirement pension converted under regulation 168 ceases to be payable under regulation 97 or 114, the conversion amount for any retirement pension that subsequently becomes payable to P is an amount determined by the scheme manager after consulting the scheme actuary.