The Armed Forces Pension Regulations 2014
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Change 1
26A Calculation of “retirement index supplement”
(1) This regulation applies where a retirement index adjustment— (a) has been applied to an amount of accrued pension for a leaving year which is a leaving year beginning on either 1st April 2020 or 1st April 2021, and (b) the retirement index adjustment has been calculated by reference to the increase in earnings for that scheme year. (2) The scheme manager must as soon as reasonably practicable— (a) calculate the retirement index supplement; and (b) credit the retirement index supplement to the member’s pension account. (3) The retirement index supplement is an amount calculated as follows— A-B where— A means the retirement index adjustment calculated as if the percentage increase in earnings specified in the relevant Treasury order had been— (a) 2.6% in the scheme year beginning on 1st April 2020; (b) 4.5% in the scheme year beginning on 1st April 2021; B means the retirement index adjustment calculated by reference to the percentage increase in earnings specified in the relevant Treasury order for the relevant scheme year. (4) For the purposes of regulations 35, 40 and 115, any reference to “retirement index adjustment” includes any “retirement index supplement”. (5) In this regulation, the relevant Treasury order means— (a) for the scheme year beginning on 1st April 2020, the Public Service Pensions Revaluation Order 2021; (b) for the scheme year beginning on 1st April 2021, the Public Service Pensions Revaluation Order 2022.
26A Calculation of “retirement index supplement”
(1) This regulation applies where a retirement index adjustment— (a) has been applied to an amount of accrued pension for a leaving year which is a leaving year beginning on either 1st April 2020 or 1st April 2021, and (b) the retirement index adjustment has been calculated by reference to the increase in earnings for that scheme year. (2) The scheme manager must as soon as reasonably practicable— (a) calculate the retirement index supplement; and (b) credit the retirement index supplement to the member’s pension account. (3) The retirement index supplement is an amount calculated as follows— A-B where— A means the retirement index adjustment calculated as if the percentage increase in earnings specified in the relevant Treasury order had been— (a) 2.6% in the scheme year beginning on 1st April 2020; (b) 4.5% in the scheme year beginning on 1st April 2021; B means the retirement index adjustment calculated by reference to the percentage increase in earnings specified in the relevant Treasury order for the relevant scheme year. (4) For the purposes of regulations 35, 40 and 115, any reference to “retirement index adjustment” includes any “retirement index supplement”. (5) In this regulation, the relevant Treasury order means— (a) for the scheme year beginning on 1st April 2020, the Public Service Pensions Revaluation Order 2021; (b) for the scheme year beginning on 1st April 2021, the Public Service Pensions Revaluation Order 2022.
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