11. The pension credit of the person who, on 31 December 1999, did not participate in this plan and which had started to be paid on that date is, in order to establish the annual payable amount at 1 January 2000, indexed from 1 January 1990 or from the date on which the pension credit started being paid if that date is subsequent, of the Pension Index ratio or, where applicable, of the rate retained for the purposes of section 107 of the Act if it is higher.
Where the person referred to in the first paragraph retired after 31 December 1989 but before the date on which the pension credit started being paid, it is also indexed, according to the rate referred to in the first paragraph, from the date where the person retired up to the one when the pension credit started to be paid.
From 1 January 2000, the pension credit is indexed according to section 10.