Paragraph 3 Calculation of reckonable service

The Managers shall calculate such of the participant’s aggregate period of reckonable service as has accrued, making such of the following adjustments as may apply to him—

(a)

where he is paying periodical contributions for the purchase of added years, the number of such years purchased as at the appointed date shall be calculated in accordance with the formula

\frac{A \times B}{C}

where—

A is the number of added years he applied to purchase by periodical contributions (after making any relevant adjustment under article 6(2)(a) or (b) of the principal Order); and
B is the period (expressed to the nearest day) during which periodical contributions have been paid); and
C is the total period during which periodical contributions are payable under the contract,

and where the Managers have accepted more than one application from him to purchase added years by the payment of periodical contributions, each contract shall be apportioned accordingly;

(b)

the amount (if any) of his actual period of reckonable service as fell after he attained the age of sixty-five years shall be disregarded.