61Pension conversion factors

61 Pension conversion factors

(1)  For the purposes of regulation 60 , the Commission must –

(a) determine pension conversion factors from time to time, on the advice of the Actuary; and

(b) publish those factors by notice in the Gazette; and

(c) cause the factors to be reviewed by the Actuary at least once a year and at such other times as the Commission determines.

(2)  Different factors may be determined depending on the age and gender of the person entitled to a benefit and whether there is a reversionary right to his or her surviving partner.

(3)  If –

(a) an existing contributor is entitled to a benefit under regulation 33 , 34 , 35 , 36 or 39 ; or

(b) a person to whom, immediately before the commencement day, regulation 17 of the Retirement Benefits (Transitional) Regulations 1994 applied ceases employment after attaining his or her preservation age; or

(c) a person in respect of whom an investment account has been established under regulation 49 ceases employment after attaining the preservation age and the balance of the account comprises solely –

(i) the original benefit entitlement (less any deductions for fees or tax) that –

(A) the person became entitled to under regulation 37 or 37A of the Retirement Benefits Regulations 1994 , regulation 48 or 49 of the Retirement Benefits Regulations 2005 or regulation 34 or 35 of these regulations; and

(B) was preserved in the Fund under regulation 43(4)(a) and (b), or regulation 43(5)(b), of the , regulations 54(3)(a) and (b), or regulations 54(4)(a) and (b), of the or and , or , of these regulations; and