PART 5Discretionary Compensation for Premature Retirement
Adult Compensation23.
Subject to regulation 29, the rate of the long-term compensation payable to a person (P) who is not a child (“adult compensation”) is—
(a)
if P is a member of the existing scheme with a normal pension age of 60, one half of the notional annual compensation rate;
(b)
if P is a member of the existing scheme with a normal pension age of 65, 1/160 of MxN, where
M is P’s average salary;
N is P’s family benefit service;
(c)
if P is a transition member or a member of the 2015 scheme, 37.5% of P’s annual pension.