Regulation 87 Annual rate of age retirement pension

(1)

This regulation applies if an active member or a deferred member (P) becomes entitled to payment of an age retirement pension.

(2)

The annual rate of age retirement pension payable to P is found by—

(a)

taking the amount of full retirement earned pension specified in P's pensioner member's account;

(b)

applying the actuarial adjustment (if any) specified in that account in relation to that amount;

(c)

subtracting the conversion amount (if any) specified in that account in relation to that amount;

(d)

adding the amount of full retirement additional pension (if any) specified in that account; and

(e)

subtracting the conversion amount (if any) specified in that account in relation to that amount.