The calculations below are appropriate for members subject to benefit reduction due to AA charges retiring at their normal pension age from either active or deferred status.

The factors used for the calculations are in Table 603 in the consolidated factors workbook.

The appropriate factor will depend on the member's age (last birthday) at their date of retirement.

The steps necessary to calculate a benefit reduction for members retiring in normal health at their normal pension age are described below.

The debits calculated below should be applied to main scheme benefits before any member options are exercised, e.g. commutation.