PART 5Pension accounts

CHAPTER 6Deferred member’s account

Provisional amount of deferred pensionI148

1

The deferred member’s account must specify the provisional amount of each description of deferred pension.

2

The provisional amount of each description of deferred pension is the sum of—

a

the amount of the relevant accrued pension calculated under regulation 35 (“accrued amount”);

b

the retirement index adjustment for the accrued amount; and

c

the assumed age addition (if any) for the accrued amount.

3

The retirement index adjustment is not applied in relation to an amount of accrued pension if a transfer payment was made before the end of the last active scheme year in respect of the member’s rights to that accrued pension.

4

In this regulation, “relevant accrued pension” means—

a

for a deferred standard earned pension, accrued standard earned pension;

b

for a deferred earned pension attributable to an effective pension age option or, accrued earned pension attributable to that option;

c

for a deferred club transfer earned pension, accrued club transfer earned pension;

d

for a deferred added (self only) pension, accrued added (self only) pension; and

e

for a deferred added (all beneficiaries) pension, accrued added (all beneficiaries) pension.