PART 5Retirement Benefits for Teachers
CHAPTER 2Age retirement
Annual rate of age retirement pension87.
(1)
This regulation applies if an active member or a deferred member (P) becomes entitled to payment of an age retirement pension.
(2)
The annual rate of age retirement pension payable to P is found by—
(a)
taking the amount of full retirement earned pension specified in P's pensioner member's account;
(b)
applying 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; and
(e)
subtracting the commutation amount (if any) specified in that account in relation to that amount.