The Police Pensions Regulations (Northern Ireland) 2015

Provisional amount of deferred pension

62.—(1) The deferred member’s account must specify the provisional amount of each description of deferred pension.

(2) The provisional amount of each description of deferred earned pension is the sum of—

(a) the amount of the relevant accrued earned pension calculated under regulation 43 (“accrued amount”);

(b) the retirement index adjustment for the accrued amount; and

(c) the assumed age addition (if any) for the accrued amount.

(3) The retirement index adjustment is not applied in relation to an amount of accrued earned pension if a transfer payment was made before the end of the last active scheme year in respect of the member’s rights to that accrued pension.

(4) The provisional amount of each description of deferred added pension is the sum of—

(a) the amount of the relevant accrued added pension calculated under regulation 43 (“accrued amount”);

(b) the retirement PIA index adjustment for the accrued amount; and

(c) the assumed age addition (if any) for the accrued amount.

(5) In this regulation—

“relevant accrued earned pension” means—

(a)

for a deferred standard earned pension, accrued standard earned pension;

(b)

for a deferred club transfer earned pension, accrued club transfer earned pension;

“relevant accrued added pension” means—

(a)

for a deferred added (self only) pension, accrued added (self only) pension; and

(b)

for a deferred added (all beneficiaries) pension, accrued added (all beneficiaries) pension.