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The Public Service (Civil Servants and Others) Pensions Regulations (Northern Ireland) 2014

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Calculation of “retirement index adjustment”

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32.—(1) The retirement index adjustment for an amount of accrued pension is—

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—

where—

A means—

(a)

for accrued club transfer earned pension, the in-service revaluation index that applies in relation to the sending scheme for the leaving year; and

(b)

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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