16.—(1) This regulation applies where short service benefit is computed on the basis of uniform accrual, in accordance with paragraph 11 of Schedule 16.
(2) Where this regulation applies long service benefit at the time when the member’s pensionable service terminates is to be calculated on the assumption that the member’s earnings would have remained constant from the time when pensionable service terminates until normal pension age.
(3) For the purpose of computing a member’s short service benefit, the trustees or managers of the scheme may make such assumptions as the Occupational Pensions Board consider reasonable as to—
(a)the level at which the member’s earnings would have remained constant,
(b)the dates on which bonuses would have been declared and the rates of those bonuses, and
(c)the value of, and the rate of interest on, securities.