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Pension MBR factor
The pension MBR factor is the percentage increase in the 'not a member of a couple' service pension maximum basic rate. It is used for the indexation of some payments, limits and thresholds. The factor is calculated each time the rate of service pension is indexed and is equal to the new 'not a member of a couple' MBR divided by the previous 'not a member of a couple' MBR.
Indexation is the action of adjusting pension and allowance rates, limits and thresholds to maintain their value against increases in the cost of living and average earnings.
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