The Public Service (Civil Servants and Others) Pensions Regulations 2014
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Change 1
43 Amount of pension for a scheme year
(1) This regulation applies in relation to every scheme year in which an active member’s account is open. (2) The active member’s account must specify, in relation to each description of pension, the amount of that description of pension for the scheme year. (3) The amount of club transfer earned pension for a scheme year must be specified separately in relation to each sending scheme. (4) The amount of earned pension for a scheme year is 2.32% of the member’s pensionable earnings for that year. (5) The amount of transferred pension for a scheme year is the amount (if any) which the member is entitled to count under regulation 152 for that year. (6) The amount of club transfer earned pension for a scheme year is the amount (if any) which the member is entitled to count under regulation 154 for that year. (7) The amount of added pension of any description for a scheme year is the amount (if any) credited to the active member’s account in that scheme year under paragraph 13 or 14 of Schedule1 (payments for extra pension). (8) In this regulation, “earned pension” means the following descriptions of pension— (a) standard earned pension (if any); and (b) earned pension attributable to the exercise of an effective pension age option or an enhanced effective pension age option (if any). (9) For the purpose of paragraph (4), in respect of a period of assumed pay under this scheme, “pensionable earnings” means the member’s assumed pay.
43 Amount of pension for a scheme year
(1) This regulation applies in relation to every scheme year in which an active member’s account is open. (2) The active member’s account must specify, in relation to each description of pension, the amount of that description of pension for the scheme year. (3) The amount of club transfer earned pension for a scheme year must be specified separately in relation to each sending scheme. (4) The amount of earned pension for a scheme year is 2.32% of the member’s pensionable earnings for that year. (5) The amount of transferred pension for a scheme year is the amount (if any) which the member is entitled to count under regulation 152 for that year. (6) The amount of club transfer earned pension for a scheme year is the amount (if any) which the member is entitled to count under regulation 154 for that year. (7) The amount of added pension of any description for a scheme year is the amount (if any) credited to the active member’s account in that scheme year under paragraph 13 or 14 of Schedule1 (payments for extra pension). (8) In this regulation, “earned pension” means the following descriptions of pension— (a) standard earned pension (if any); and (b) earned pension attributable to the exercise of an effective pension age option or an enhanced effective pension age option (if any). (9) For the purpose of paragraph (4), in respect of a period of assumed pay under this scheme, “pensionable earnings” means the member’s assumed pay.
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