Regulation 74 Meaning of “actuarial adjustment”
In these Regulations, “actuarial adjustment” means the actuarial adjustment (to be determined by the Department after taking advice from the scheme actuary) that is applied when calculating the annual rate of pension payable—
C1(a)
to a member who, on the entitlement day for a pension other than an age retirement pension or an ill health pension, has not reached normal pension age; or
(b)
to an active member who becomes a pensioner member after reaching normal pension age.