Regulation 23 Retirement compensation for diminution of emoluments
A person to whom this Part of these Regulations applies and who has suffered a diminution of his emoluments shall be entitled to receive retirement compensation in accordance with the provisions of this regulation.
The provisions of regulations 20 and 21 shall apply to any such person as if he had suffered loss of employment immediately before the diminution occurred; but the amount of the retirement compensation payable shall be the amount which would have been payable in respect of loss of employment multiplied by a fraction of which—
the numerator is the amount by which his emoluments have been diminished, and
the denominator is the amount of his emoluments immediately before they were diminished.
For the purposes of this calculation no account shall be taken of any reduction which might otherwise fall to be made in the accrued pension or accrued incapacity pension because of a retirement pension payable under section 30 of the National Insurance Act 1965.
No compensation shall be payable under this regulation—
if the person's emoluments have been diminished by less than 2½ per cent; or
if the person had continued to pay superannuation contributions as if his emoluments had not been diminished.