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The Armed Forces Pension Regulations 2014

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Calculation of amount of accrued pension for the purposes of Parts 4 and 5

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25.—(1) For the purposes of Parts 4 and 5, the amount of accrued pension is calculated in accordance with this regulation.

(2) The amount of accrued earned pension is the sum of the following amounts specified in the active member’s account as at the end of the last day of pensionable service—

(a)the opening balance of earned pension for the last active scheme year and the index adjustment for that opening balance;

(b)the amount of earned pension for the last active scheme year;

(c)the opening balance of transferred pension for the last active scheme year and the index adjustment for that opening balance; and

(d)the amount of transferred pension for the last active scheme year.

(3) The amount of the accrued added pension (member) is the sum of the following amounts specified in the active member’s account as at the end of the last day of pensionable service—

(a)the opening balance of the accrued added pension (member) for the last active scheme year and the index adjustment for that opening balance; and

(b)the amount of accrued added pension (member) for the last active scheme year.

(4) The amount of the accrued added pension (member and dependants) is the sum of the following amounts specified in the active member’s account as at the end of the last day of pensionable service—

(a)the opening balance of accrued added pension (member and dependants) for the last active scheme year and the index adjustment for that opening balance; and

(b)the amount of accrued added pension (member and dependants) for the last active scheme year.

(5) The amount of the accrued club transfer earned pension is the total of the following amounts specified in the active member’s account as at the end of the last day of pensionable service—

(a)for each sending scheme, the sum of the opening balance of the club transfer earned pension for the last active scheme year and the index adjustment for that opening balance; and

(b)for each sending scheme, the amount of club transfer earned pension for the last active scheme year.

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