The Public Service (Civil Servants and Others) Pensions Regulations 2014
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Change 1
93 Annual rate of pension credit member’s pension
(1) The annual rate of a pension credit member’s pension is calculated by— (a) taking the amount of credited pension specified in the pension credit member’s account; (b) subtracting the early payment reduction (if any) specified in that account in relation to that amount; and (c) subtracting the commutation amount (if any) specified in that account in relation to that amount. (2) If a member buys out the early payment reduction, the annual rate of pension is calculated without subtracting the early payment reduction.
93 Annual rate of pension credit member’s pension
(1) The annual rate of a pension credit member’s pension is calculated by— (a) taking the amount of credited pension specified in the pension credit member’s account; (b) subtracting the early payment reduction (if any) specified in that account in relation to that amount; and (c) subtracting the commutation amount (if any) specified in that account in relation to that amount. (2) If a member buys out the early payment reduction, the annual rate of pension is calculated without subtracting the early payment reduction.
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