The subject of the verb "to entitle" is that which grants entitlement. The recipient is the object. I think we can legitimately read the sentence as passive.
Active; "applicable regulations" are doing something:
"Applicable regulations entitle you to jump pay for the time you spent in training last year."
Passive; "applicable regulations" are still doing something:
"You are entitled by applicable regulations to jump pay for the time you spent in training last year."
Still passive; vague about what's doing something:
"You are entitled to jump pay for the time you spent in training last year."
As you point out, "entitled" is often used as an adjective. I think you're right that the sentence can be read that way, and in that case it is indeed active.
After consideration, I think the passive read is more correct, but I can't yet put my finger on why.