Regulation 9 Amendment of Superannuation Regulations

Regulation E4A is amended as provided by paragraphs (2) to (5).

In paragraph (2)(b) for “25%” there shall be substituted “20%”.

In paragraph (3)(d) for “25%” there shall be substituted “20%”.

In paragraph (6) for “75%” there shall be substituted “80%”.

For paragraph (12) substitute—

“(12)

In calculating the factor by which additional benefits referred to in paragraph (11) are to be multiplied and divided pursuant to regulation E5A(3) and (4)-

(a)

in relation to an election made on or before 22nd June 2010 RPI1 is the retail prices index for the second month before the month in which the change in pensionable employment occurred,

(b)

in relation to an election made after 22nd June 2010 CPI1 is the consumer prices index for the second month before the month in which the change in pensionable employment occurred, and

(c)

the definition of X has effect as if for “the date on which the person became entitled to payment of retirement benefits” there were substituted “the date of the change in pensionable employment”.”.