Regulation 40 InterpretationI1

In this Part—

• “the leaving year” means the financial year in which the relevant last day falls;

• “the relevant last day” means—

  1. (a)

     for a member who has made a phased retirement application, the day before the entitlement day for a phased retirement pension; and

  2. (b)

     otherwise, the last day of pensionable service.