Regulation 102 Annual rate of early retirement pensionI1

Scotland

The annual rate of the early retirement pension payable to a person (P) is found by—

(a)

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

(b)

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

(c)

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

(d)

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

(e)

subtracting the commutation amount (if any) specified in that account in relation to the sum of those amounts.

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