Part 1: The Historical Institutional Abuse Redress Board Section 13: Actuarial adjustment of award
Subsection (3) provides a panel with the power to adjust the amount of compensation it has determined in respect of an application.
	Subsection (1) sets out that the panel may make such an adjustment if the person making the claim has previously been paid compensation for the same abuse considered by the Panel and the Panel’s determination is in excess of this. Subsection 2 defines what is meant by compensation previously paid as referenced in subsection (1)(b).
	Subsections (4) and (5) outline the steps involved in making the adjustment. First, the GDP calculator will be used to establish the present day value of the award previously paid to the applicant e.g. a previous award of £13,000 is revalued at £21,000. If the panel has decided the applicant should be awarded £24,000 compensation, then the net amount to be paid to the applicant will be £3,000 (£24,000 less £21,000).