Regulation 10 Amendment of Superannuation Regulations

Regulation E5A is amended as provided in paragraph (2).

For paragraph (3) substitute—

“(3)

The factor in this paragraph is—

(a)

in relation to an election made on or before 22nd June 2010, RPI1/RPI2 where—

(i)

RPI1 is the retail prices index for the penultimate month before the month which includes the day before the person becomes entitled to the part of his retirement pension referred to in this regulation, and

(ii)

RPI2 is the retail prices index for the month which includes the start date, as defined in paragraph 1 of Schedule 2A, for the election in question, and

(b)

in relation to an election made after 22nd June 2010, CPI1/CPI2 where—

(i)

CPI1 is the consumer prices index for the penultimate month before the month which includes the day before the person becomes entitled to the part of his retirement pension referred to in this regulation, and

(ii)

CPI2 is the consumer prices index for the month which includes the start date, as defined in paragraph 1 of Schedule 2A, for the election in question.”.