PART 5Pension accounts

CHAPTER 2Calculation of adjustments

Calculation of “retirement PIA index adjustment”38

1

The retirement PIA index adjustment for an amount of accrued added pension is calculated in accordance with paragraph (2).

2

The retirement PIA index adjustment is the amount by which the annual rate of a pension of an amount equal to the amount of accrued added pension would have been increased in the leaving year under PIA 1971 if—

a

that pension were eligible to be so increased; and

b

the beginning date for that pension were the day after the last day of pensionable service.