30Revaluation
(1)Where a member of the past service scheme who has acquired rights under the scheme ceases, or has already ceased, to perform pensionable service before reaching the retiring age, and section 83(1)(a) of the Pension Schemes Act 1993 (revaluation of scheme) applies, any pension or other retirement benefit payable under the scheme must be revalued.
(2)For the purposes of a revaluation under this section, a benefit is calculated as at the date on which the member ceased to perform pensionable service.
(3)A revaluation under this section must be done in accordance with—
(a)Chapter 2 of Part 4 of the Pension Schemes Act 1993, or
(b)such other method, being at least as favourable to the person to whom the benefit is payable, as the Board decides.