PART 5Retirement Benefits for Teachers
CHAPTER 5Early retirement
Annual rate of early retirement pension105.
The annual rate of the early retirement pension payable to a person (P) is found by—
(a)
taking the amount of full retirement earned pension specified in P's pensioner member's account;
(b)
applying the standard reduction (if any) and the actuarial adjustment (if any) specified in that account in relation to that amount;
(c)
subtracting the commutation amount (if any) specified in that account in relation to that amount;
(d)
adding the amount of full retirement additional pension (if any) specified in that account;
(e)
applying the actuarial adjustment (if any) specified in that account in relation to that amount; and
(f)
subtracting the commutation amount (if any) specified in that account in relation to that amount.