Actuarial Assumptions. Investment return The annualized gross redemption yield on the FT-Actuaries 20 Year Gilt Index (at close of business on the day before the Completion Date), plus 1.75% pa prior to retirement/0.75% pa after retirement, rounded to the nearest 0.01% pa compound Increases in prices 100 x [[(1+G)/(1+I)-1]% pa where G is the annualized gross redemption yield on the FT-Actuaries 20 Year Gilt Index (at close of business on the day before the Completion Date), and I is the arithmetic average of the annualized gross redemption yields on the FT-Actuaries Over 5 Year Index-Linked Gilt Index with 0% and 5% inflation (at close of business on the day before the Completion Date), respectively. The figure shall be rounded to the nearest 0.01% pa compound Salary or Pensionable 1.0% pa (with no averaging at the Salary increases in annualized date of exit from active excess of increases in membership) plus an allowance for prices promotional increases in line with the attached table Increases in Section 1.0% pa 148 Orders in excess of increases in prices Increases to pensions In line with increases in prices plus 0.2% once in payment pa on pensions in excess of GMP's Nil on GMP's accrued before 6 April 1988 In line with increases in prices, less 0.4% pa, on GMP's accrued after 6 April 1988 Increases to pensions In line with increases in prices on and lump sums in deferment pensions in excess of GMP's BACON & WOODROW Actuaries and Consultants Withdrawals ▇▇ accordance with attached table Age basis Age nearest birthday Death in service and in In accordance with standard tables, deferment adjusted as follows: Males 75% of AM92 unrated Females 75% of AF92 unrated Retirement in normal Average age at retirement is assumed to be health 60 for all members Retirement from At the member's Normal Pension Age deferment applying under the Rules of the Scheme, with a 17% reduction for early payment of pre-17 May 1990 benefits for pre-1 April 1988 male joiners under ESPS Retirement in ill-health In accordance with attached table (for ESPS members only) Death after retirement In accordance with the standard table PMA92/PFA92 (base year 2020), related up in age as follows: Males (normal health) + 1 year Males (ill-health) + 9 years Females (normal health) + 2 years Females (ill-health) + 9 years Widows + 2 years Widowers + 2 years Family Details 90% of members are assumed to be married at retirement or death before retirement. A man is assumed to be 2 years older than his wife.
Appears in 1 contract
Actuarial Assumptions. Investment return Return The annualized gross redemption yield on the FT-Actuaries 20 Year year Gilt Index (at close of business on the day before the Completion Date), plus 1.75% pa prior to retirement/0.75% pa after retirement, rounded to the nearest 0.01% pa compound Increases Increase in prices 100 x [[(1+G)/(1+I)-1]% 11 + G) / (1+ I) - 1] % pa where G is the annualized gross redemption yield on the FT-Actuaries 20 Year Gilt Index (at close of business on the day before the Completion Date), ) and I is the arithmetic average of the annualized gross redemption yields on the FT-Actuaries Over 5 Year Index-Linked Gilt Index with 0% and 5% inflation (at close of business on the day before the Completion Date), respectively. The figure figures shall be rounded to the nearest 0.01% pa compound Salary or Pensionable Salary 1.0% pa (with no averaging at the Salary increases in annualized excess of assumed date of exit from active excess of increases in prices membership) plus an allowance for prices promotional increases in line with the attached table Increases in Section 148 1.0% pa 148 Orders in excess of increases in prices Increases Increase to pensions once in In line with increases in prices plus payment 0.2% once in payment pa on pensions in excess of GMP's GMPs Nil on GMP's GMPs accrued before 6 April 1988 In line with increases in prices, less 0.4% pa, on GMP's GMPs accrued after 6 5 April 1988 1998 Increases to pensions and In line with increases in prices on and lump sums in deferment pensions in excess of GMP's GMPs BACON & WOODROW Actuaries and Consultants Withdrawals ▇▇ In accordance with attached table Age basis Age nearest birthday Death in service and in In accordance with standard tables, deferment adjusted as follows: Males 75% of AM92 unrated Females 75% of AF92 unrated Retirement in normal health Average age at of retirement is assumed to be health 60 for all members Retirement from deferment At the member's Normal Pension Age deferment applying under the Rules of the Scheme, with a 17% reduction for early payment of pre-17 May 1 1990 benefits for pre-1 April 1988 1989 male joiners under ESPS Retirement in ill-health In accordance with attached table (for ESPS members only) Death after retirement In accordance with the standard table PMA92/PFA92 (base year 2020), related up in age as follows: Males (normal health) + 1 year Males (ill-health) + 9 years Females (normal health) + 2 years Females (ill-health) + 9 years Widows Widow + 2 years Widowers + 2 years Family Details 90% of members are assumed to be married at retirement or death before retirementretire- ment. A man is assumed to be 2 years older than his wife.
Appears in 1 contract