Annual rate of pension credit member’s pension
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Memorandwm Esboniadol
71. The annual rate of a pension credit member’s pension is calculated by—
(a)taking the amount of credited pension specified in the pension credit member’s account;
(b)subtracting the early payment reduction (if any) specified in that account in relation to that amount; and
(c)subtracting the commutation amount (if any) specified in that account in relation to that amount.