Pension Benefits for Male Officers

The original Trust Deed that established the trust on 23 December 1913 provided a pension benefit for male officers who had completed at least 15 years of service.

The original formula for determining the pension benefit was based on the ‘classic’ pension formula used by many pension funds, namely:

The pension benefit was provided by Regulation 6.

The original pension formula was repealed (revoked) by the consolidation Deed of Variation executed on 6 May 1958 and a new pension formula added by Regulation 29, namely:

When originally added to the Regulations of the Fund the averaging period of [Final Average Salary] was the last ten years of service, however this was progressively reduced by the following Deeds of Variation:

Reduced to the last seven years of service:

Reduced to the last five years of service:

Reduced to the last three years of service:

No executed Deed of Variation exists that complies with the provisions of the of the Power of Amendment {Regulation 50} and also purports to repeal {revoke} Regulation 29.

facebooktwittergoogle_plusredditpinterestlinkedinmailby feather