Benefit limits
13.—(1) The Schedule shall have effect for limiting the benefits that may be paid under these Regulations.
(2) The maximum annual rate of a retirement pension or dependent’s pension ascertained from the Schedule may be increased–
(a)by 3 per cent for each completed year that has elapsed; or
(b)if a greater increase results, in proportion to the increase in the Index that has occurred,
since the date on which the pension became payable.
(3) The Secretary of State shall comply with the requirements of regulation 5 of the Retirement Benefits Schemes (Restriction on Discretion to Approve) (Additional Voluntary Contributions) Regulations 1993(1), and where, within the meaning of those Regulations, the scheme is the “leading scheme” in relation to a member, with the requirements of regulation 6 of those Regulations so far as they concern “main schemes” for the purposes of those Regulations.
S.I. 1993/3016.