Meaning of “actuarial adjustment”
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71. In these Regulations, “actuarial adjustment” means the actuarial adjustment that is applied when calculating the annual rate of pension payable—
(a)to a member who, on the entitlement day for a pension other than an age retirement pension or an ill-health pension, has not reached normal pension age; or
(b)to an active member who becomes a pensioner member after reaching normal pension age.