52.—(1) This regulation applies in relation to every financial year in which an active member’s account is open other than the financial year in which the account is established.
(2) The active member’s account must specify—
(a)the opening balance of standard earned pension for the financial year and the index adjustment for that opening balance;
(b)the opening balance of faster accrual earned pension (if any) for the financial year and the index adjustment for that opening balance; and
(c)the opening balance of transferred pension (if any) for the financial year and the index adjustment for that opening balance.
(3) The opening balance in relation to a description of pension—
(a)for the financial year immediately following the financial year in which the active member’s account is established is the amount of that pension for the previous financial year as at the end of the previous financial year;
(b)for any subsequent financial year, is the sum of the following amounts—
(i)the opening balance of that pension for the previous financial year and the index adjustment for that opening balance; and
(ii)the amount of that pension for the previous financial year as at the end of the previous financial year.
(4) In this regulation, “a description of pension” means—
(a)standard earned pension;
(b)faster accrual earned pension (if any);
(c)additional pension (if any); and
(d)transferred pension (if any).