Amount of payment: hybrid commitment – leaves between EDP 2005 point and EDP 2015 pointU.K.
29.—(1) This paragraph applies to an eligible person who—
(a)had their service continued to the end of their commitment period, would have reached age 55 or become entitled to EDP 2005 payments but who would not have reached age 60 or become entitled to EDP 2015 payments, and
(b)actually ceases service on or after either reaching age 55 or becoming entitled to EDP 2005 payments but before either reaching age 60 or becoming entitled to EDP 2015 payments,
and in this paragraph references to service are to redundancy qualifying service.
(2) The amount payable under paragraph 8(1) is comprised of an AFRS 2006 style payment and an AFRS 2020 style payment.
(3) The AFRS 2006 style payment is calculated as follows—
Step 1: If R is more than or equal to 4, the result of step 1 is
If R is less than 4, the result of step 1 is
where—
F is final relevant earnings, and
R is the number of remaining years that the member had left to serve in their commitment.
But if the person is entitled to a maximum pension as a member of AFPS 2005, step 1 can be no more than half of final relevant earnings.
Step 2: take the result of step 1 and multiply by
where—
RS is AFRS 2006 relevant service, and
TS is total service.
(4) The AFRS 2020 style payment is calculated as follows—
Step 1: Take the lower of—
(a)10.2% x F x TS, and
(b)(10.2% x F x R) + (10.2% x F)
where—
F is final relevant earnings,
R is the number of remaining years that the member had left to serve in their commitment, and
TS is total service.
Step 2: take the result of step 1 and multiply by
where—
Q is redundancy qualifying service, and
TS is total service.
Commencement Information
I1Sch. para. 29 in force at 1.1.2021, see art. 1(b)