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Pension Schemes Act 1993
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105Proportional increase where first period is less than 12 months
(1)Where the first increase of a pension required under section 103 is to take effect on a date when the pension has been in payment for a period of less than 12 months, that increase shall be of an amount equal to one twelfth of the amount of the increase so required (apart from this subsection) for each complete month in that period.
(2)This section shall apply in relation to the first increase of a pension by virtue of section 104 in consequence of each successive valuation surplus as it applies in relation to the first increase of a pension under section 103.
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