The Public Service (Civil Servants and Others) Pensions Regulations 2014
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Change 1
32 Calculation of “retirement index adjustment”
(1) Subject to regulation 32A, the retirement index adjustment for an amount of accrued pension is— amount of accrued pension × retirement index percentage where— “amount of accrued pension” means an amount of any description of accrued pension; and “retirement index percentage” means the retirement index percentage calculated under paragraph (2) for that description of accrued pension. (2) The retirement index percentage is— A × B 12 where— A means— for accrued club transfer earned pension, the in-service revaluation index that applies in relation to the sending scheme for the leaving year; and for any other description of accrued pension, the in-service revaluation index that applies in relation to this scheme for the leaving year; B is the number of complete months in the period between the beginning of the leaving year and the end of the relevant last day; and “complete month” includes an incomplete month that consists of at least 16 days.
32 Calculation of “retirement index adjustment”
(1) Subject to regulation 32A, the retirement index adjustment for an amount of accrued pension is— amount of accrued pension × retirement index percentage where— “amount of accrued pension” means an amount of any description of accrued pension; and “retirement index percentage” means the retirement index percentage calculated under paragraph (2) for that description of accrued pension. (2) The retirement index percentage is— A × B 12 where— A means— for accrued club transfer earned pension, the in-service revaluation index that applies in relation to the sending scheme for the leaving year; and for any other description of accrued pension, the in-service revaluation index that applies in relation to this scheme for the leaving year; B is the number of complete months in the period between the beginning of the leaving year and the end of the relevant last day; and “complete month” includes an incomplete month that consists of at least 16 days.
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