Paragraph 7 Cap on expected pension and actual pension

Where the amount of a qualifying member’s expected pension determined in accordance with the previous provisions of this Schedule multiplied by 0.8, exceeds £12,000, the amount of the annual payment payable to, or in respect of, that member under paragraphs 3 to 5 shall be determined on the basis that the product of that calculation was £12,000.

Where the amount of a qualifying member’s actual pension determined in accordance with paragraph 2 exceeds—