Formulas Flashcards
1
Q
Commutation factor max PCLS
A
(Pension X CF)/(1+(0.15×CF)=
2
Q
Reduced pension
A
Max PCLS/CF=Reduction
Pension-reduction=reduced pension
3
Q
Half scheme reduction
A
Max PCLS/2=Half PCLS
Half PCLS/CF=Half reduction
4
Q
Max capped income
A
150%xGAD
Eg 150%x50/1000
5
Q
Scheme benefits accrued
A
Fin salary x service/acrual rate
Eg £40000 x 20years / 1/80
