The Scotland Act 1998 (Transitory and Transitional Provisions) (Scottish Parliamentary Pension Scheme) Order 1999

3.—(1) On retirement at any time after age 50, except before normal retirement date on grounds of incapacity, a pension of 1/60th of the person’s final salary for each year of service (not exceeding 40 years) or, if greater, the lesser of–

(a) 1/30th of his final salary for each year of service (not exceeding 20 years); and

(b) 2/3rds of his final salary minus the pension value of all retained benefits.

(2) On retirement before the normal retirement date on grounds of incapacity an immediate pension in accordance with sub-paragraph (1) above on the basis of the number of years which would have counted as service had the participant remained in service to the normal retirement date.

(3) On leaving pensionable service before the normal retirement date a deferred pension–

(a) for participants who remain in service, of that proportion of the amount calculated in accordance with sub-paragraph (2) above that the number (not exceeding 40) of years of service completed before leaving pensionable service bears to the potential number (not exceeding 40) of years of service had the participant remained in service to the normal retirement date;

(b) for other participants the amount calculated in accordance with sub-paragraph (1) above,

increased by up to 5% for each complete year, or, if greater, in proportion to any increase in the index which has occurred during the period of deferment.

(4) Benefits are further restricted as necessary to ensure that the participant’s total retirement benefit under the Scheme, from any free standing additional voluntary contributions scheme and from any other additional voluntary contributions does not exceed 1/30th of the permitted maximum for each year of service. For the purpose of this limit service is the aggregate of service provided that the total shall not exceed 20 years. The permitted maximum in this context is that for the year of assessment in which the benefits commence to be paid or, if earlier, are transferred out under article P1 or P2. For the purpose of calculating the total retirement benefit the pension equivalent of benefits in any form other than pension is one 1/12th of its cash value.