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Church of England Pensions Measure 2018
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- Church Measures
- 2018 No. 9
- SCHEDULE 2
- PART 1
- Whole-time service of under...
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Changes over time for: Cross Heading: Whole-time service of under 37 years
Alternative versions:
- 01/03/2019- Amendment
- 25/01/2024
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Point in time view as at 25/01/2024.
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There are currently no known outstanding effects for the Church of England Pensions Measure 2018, Cross Heading: Whole-time service of under 37 years.
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Whole-time service of under 37 yearsE
3(1)This paragraph applies where the member's qualifying period of pensionable service to which the past service scheme applies is less than 37 years of whole-time service.E
(2)The rate of the pension for that period of service is calculated as follows.
(3)The first step is to divide by 37 the rate of pension to which the member would be entitled if the qualifying period of pensionable service were 37 years of whole-time service.
(4)The second step is to multiply the number obtained under sub-paragraph (3) by the number of complete years in the period of whole-time service.
(5)The third step, which must be taken if the period of whole-time service includes part of a year, is—
(a)to divide by 12 the number obtained under sub-paragraph (3),
(b)to multiply the number obtained under paragraph (a) by the number of complete months in that part of the year, and
(c)to add the number obtained under paragraph (b) to the number obtained under sub-paragraph (4).
(6)The amount of the lump sum payment is that which bears the same proportion to three times the full basic pension as the pension to which the member is entitled on retirement for the whole-time service bears to that to which the member would have been entitled if he or she had retired on reaching the retiring age with a qualifying period of service of 37 years of whole-time service.
Commencement Information
I1Sch. 2 para. 3 in force at 1.3.2019 by S.I. 2019/98, art. 2
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