Definitions of terms in regulations 9 and 10
10A.  For the purposes of regulations 9 and 10 —
(a)the specified monthly payment for a member shall be computed in accordance with the formula:
UNKNOWN
where the member is entitled to receive the specified monthly payment referred to in regulation 9(1) upon attaining the age of 60; or
UNKNOWN
where the member is entitled to receive the specified monthly payment referred to in regulation 9(1) upon attaining the age of 62;
(b)“inflation rate”, in relation to any specified year, means the inflation rate for that year as determined by the Department of Statistics; and
(c)the following abbreviations are used:
C is the amount maintained as the minimum sum in the member’s retirement account or in an approved bank;
M is the minimum sum applicable to the surviving or divorced member or spouse;
R is the amount maintained as the minimum sum, excluding that used for the purchase of the approved annuity;
S is the shortfall in the minimum sum applicable to the surviving or divorced member or spouse, as the case may be.