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43.—(1) The retirement index adjustment for an amount of accrued earned pension is—
where—
“amount of accrued earned pension” means an amount of any description of accrued pension; and
“retirement index percentage” means the retirement index percentage calculated under paragraph (2) for that description of accrued earned pension.
(2) The retirement index percentage is—
where—
A means—
for accrued club transfer earned pension, the in-service revaluation index that applies in relation to the sending scheme for the leaving year; and
for accrued standard earned pension, the in-service revaluation index that applies in relation to this scheme for the leaving year;
B is the number of complete months in the period between the beginning of the leaving year and the end of the last day of pensionable service; and
“complete month” includes an incomplete month that consists of at least 16 days.
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