The Public Service (Civil Servants and Others) Pensions Regulations 2014
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Change 1
33 Determination of “the age addition”
(1) This regulation applies in relation to every scheme year in which an active member’s account is open that is subsequent to the scheme year in which the member reaches normal pension age under this scheme, other than— (a) the scheme year in which the account is required to be established under this Part; and (b) the scheme year immediately following that. (2) If the member has exercised an effective pension age option or an enhanced effective pension age option then, for the years for which that option has effect, this regulation applies in relation to every scheme year in which an active member’s account is open that is subsequent to the scheme year in which the member reaches the member’s effective pension age or enhanced effective pension age, other than— (a) the scheme year in which the account is established under this Part; and (b) the scheme year immediately following that. (3) At the beginning of the scheme year, for each description of pension, the scheme manager having regard to actuarial guidance must determine the age addition to be awarded for that scheme year by reference to the opening balance of that description of pension for the previous scheme year. (4) In these Regulations, “the age addition” means an additional amount of pension determined by reference to the proportion of the previous scheme year for which a member had reached— (a) normal pension age under this scheme; or (b) where applicable, the member’s effective pension age or enhanced effective pension age.
33 Determination of “the age addition”
(1) This regulation applies in relation to every scheme year in which an active member’s account is open that is subsequent to the scheme year in which the member reaches normal pension age under this scheme, other than— (a) the scheme year in which the account is required to be established under this Part; and (b) the scheme year immediately following that. (2) If the member has exercised an effective pension age option or an enhanced effective pension age option then, for the years for which that option has effect, this regulation applies in relation to every scheme year in which an active member’s account is open that is subsequent to the scheme year in which the member reaches the member’s effective pension age or enhanced effective pension age, other than— (a) the scheme year in which the account is established under this Part; and (b) the scheme year immediately following that. (3) At the beginning of the scheme year, for each description of pension, the scheme manager having regard to actuarial guidance must determine the age addition to be awarded for that scheme year by reference to the opening balance of that description of pension for the previous scheme year. (4) In these Regulations, “the age addition” means an additional amount of pension determined by reference to the proportion of the previous scheme year for which a member had reached— (a) normal pension age under this scheme; or (b) where applicable, the member’s effective pension age or enhanced effective pension age.
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