Retirement amount of deferred pension
55.—(1) This regulation applies when a deferred member of this scheme becomes entitled to the immediate payment of a retirement pension for a period of service.
(2) The deferred member’s account must specify the retirement amount of deferred pension.
(3) The retirement amount of deferred pension is the sum of—
(a)the amount of any accrued added pension transferred to the deferred member’s account,
(b)the retirement PIA index adjustment for the accrued added pension,
(c)the assumed age addition (if any) for the accrued added pension, and
(d)the provisional amount of deferred pension.
(4) For the retirement amount of deferred pension, the deferred member’s account must specify—
(a)the early payment reduction (if any);
(b)the commutation amount (if any); and
(c)the total allocation amount (if any).