PART 5Pension accounts
CHAPTER 7Full retirement account
Amount of full retirement pension52
1
The full retirement account must specify the amount of each description of full retirement pension.
2
The amount of each description of full retirement 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
For each amount of a description of full retirement pension, the full retirement account must specify—
a
the early payment reduction (if any);
b
the commutation amount (if any); and
c
the total allocation amount (if any).
4
In this regulation, “relevant accrued pension” means—
a
for a full retirement standard earned pension, accrued standard earned pension;
b
for a full retirement earned pension attributable to an effective pension age option, accrued earned pension attributable to that option;
c
for a full retirement club transfer earned pension, accrued club transfer earned pension;
d
for a full retirement added (self only) pension, accrued added (self only) pension; and
e
for a full retirement added (all beneficiaries) pension, accrued added (all beneficiaries) pension.