Amount of pension for a scheme year
This section has no associated Explanatory Memorandum
13.—(1) This paragraph applies in relation to every scheme year in which an active member’s account is open.
(2) The active member’s account must specify—
(a)the amount of standard earned pension (if any) for the year; and
(b)the amount of club transfer earned pension (if any) for the year.
(3) The standard earned pension is 1/54th of the member’s pensionable earnings for the year.
(4) The club transfer earned pension—
(a)is the amount which the member is entitled to count under Section 3 of Chapter 2 of Part 7 (transfers);
(b)must be specified separately in relation to each sending scheme.