Public Sector Superannuation Reform (Parliamentary Superannuation) Regulations 2016
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Public Sector Superannuation Reform (Parliamentary Superannuation) Regulations 2016
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Turn the raw legal text into a practical explanation grounded in Public Sector Superannuation Reform (Parliamentary Superannuation) Regulations 2016.
(1) If a person who was a member before 1 July 1999 –
(a) was paid a benefit under the 1985 Act; and
(b) again became a member before that date –
that person, on ceasing to be a member, is entitled to a benefit under this Part.
(2) For the purpose of calculating the benefit to which a person referred to in subregulation (1) is entitled –
(a) any period served by that person before again becoming a member must be taken into account; and
(b) the benefit which he or she would, but for this regulation, have been entitled to be paid under this Part must be reduced by the adjusted benefit.
(3) For the purposes of subregulation (2)(b) –
adjusted benefit means the benefit, paid to a person in respect of his or her service as a member before again becoming a member multiplied by the ratio of the basic salary payable on his or her ceasing to be a member to the basic salary payable on the date on which was paid the benefit in respect of his or her service as a member before again becoming a member.