Paragraph 4

In paragraphs 2 and 3—

(a)

references to the indexed annual rate of remuneration of the former or, as the case may be concurrent employment are to the sum of—

(i)

the annual rate of that remuneration; and

(ii)

the amount (if any) by which, immediately before the first day of the new employment, that remuneration would have been increased if it had been the rate of an official pension (within the meaning of the Pensions (Increase) Act 1971^f1) beginning on and payable from the day after the last day of the former or, as the case may be, the concurrent employment; and

(b)

“the potential receipts during the new employment” means the sum of—

(i)

the annual rate of remuneration of the new employment;

(ii)

the reduced rate of the retirement pension; and

(iii)

the amount (if any) by which that reduced rate would, immediately before the first day of the new employment, have been increased under that Act, if it had then been the rate of the retirement pension (assuming that pension had by then qualified for increases under that Act).

Annotations

Footnotes

f1: 1971 c. 56.