The Public Service (Civil Servants and Others) Pensions Regulations (Northern Ireland) 2014 No. 290

PART 7 Benefits for pension credit members

Annual rate of pension credit member’s pension

93.—(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(1), the annual rate of pension is calculated without subtracting the early payment reduction.

(1)

()Regulation 94 provides for the option to buy out early payment reduction