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The Health and Social Care Pension Scheme Regulations (Northern Ireland) 2015

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Calculation of amount of accrued pension for purpose of partial retirement

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29.—(1) For the purpose of a partial retirement pension, the amount of accrued pension is the sum of—

(a)the amount of accrued earned pension under sub-paragraph (2); and

(b)if a member claims payment of additional pension under regulation 84(2)(c), the amount of accrued additional pension under sub-paragraph (3).

(2) The amount of accrued earned pension is the partial retirement proportion of the sum of the following amounts specified in the active member’s account as at the end of the relevant last day—

(a)the opening balance of standard earned pension for the leaving year and the index adjustment for that opening balance;

(b)the amount of standard earned pension for the relevant year;

(c)the opening balance of club transfer earned pension (if any) for the leaving year and the index adjustment for that opening balance;

(d)the amount of club transfer earned pension (if any) for the relevant year.

(3) The amount of accrued additional pension is—

(a)the sum of the following amounts specified in the additional pension account as at the end of the relevant last day—

(i)the opening balance of additional pension for the relevant year; and

(ii)the AP index adjustment (if any) for that opening balance; or

(b)an amount determined by the scheme manager under regulation 55.

(4) The relevant year is the year in which the member makes an election under regulation 83.

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