Question: Upon retirement at age 65, Linda – now aged 55 exact – will receive a monthly pension benefit starting at R5000 per month. Linda’s monthly pension benefit will increase by R200 for each completed year of retirement, up to a maximum monthly benefit of R7000 per month.

When I did the problem, I calculated:

$$EPV = v^{10} 10P_{55} [(12*4800) \ddot{a}_{65}^{(12)} + (12*200)(I\ddot{a})_{65:\bar{11]}}^{(12)} + v^{11} 11P_{65} (12*2200)\ddot{a}_{76}^{(12)}]$$

Can someone please explain why the last part isn't necessary?

Thanks!