PART 5Pension accounts
CHAPTER 5Active member’s account
Amount of pension for a scheme yearI143
1
This regulation applies in relation to every scheme year in which an active member’s account is open.
2
The active member’s account must specify, in relation to each description of pension, the amount of that description of pension for the scheme year.
3
The amount of club transfer earned pension for a scheme year must be specified separately in relation to each sending scheme.
4
The amount of earned pension for a scheme year is 2.32% of the member’s pensionable earnings for that year F1.
5
The amount of transferred pension for a scheme year is the amount (if any) which the member is entitled to count under regulation 152 for that year.
6
The amount of club transfer earned pension for a scheme year is the amount (if any) which the member is entitled to count under regulation 154 for that year.
7
The amount of added pension of any description for a scheme year is the amount (if any) credited to the active member’s account in that scheme year under paragraph 13 or 14 of Schedule1 (payments for extra pension).
8
In this regulation, “earned pension” means the following descriptions of pension—
a
standard earned pension (if any); and
b
earned pension attributable to the exercise of an effective pension age option (if any).
F29
For the purpose of paragraph (4), in respect of a period of assumed pay under this scheme, “pensionable earnings” means the member’s assumed pay.