Regulation 125 Annual rate of short-service annuity
The annual rate of a short-service annuity is the actuarial equivalent (to be determined by the Department after taking advice from the scheme actuary) of the sum of—
(a)
all of the members' contributions, faster accrual contributions (if any) and additional pension contributions (if any) in respect of a period of post-benefit service paid up to the date of receipt of the application under regulation 162; and
(b)
interest to the date of payment at 3% per year, compounded with yearly rests on those contributions from the first day of the financial year following that in which they were paid.