Retirement Savings Accounts Regulations 1997

SCHEDULE 4  

Paragraph 1.07(3A)(b)

PAYMENTS FOR MARKET LINKED PENSIONS

SECTION 1.  

1.    
Subject to the following clauses, the total amount of the payments mentioned in paragraph 1.07(3A)(b) is determined using the formula:

AB PF

where:

AB means the amount of the market linked pension account balance:

(a) on 1 July in the financial year in which the payment is made; or

(b) if that year is the year in which the pension commences - on the commencement day; and

PF means the payment factor set out in Column 3 in the Table in relation to the item in the Table that represents the term of the pension remaining, expressed in whole years in accordance with clause 5 , on:

(a) 1 July in the financial year in which the payment is made; or

(b) if that is the year in which the pension commences - the commencement day.