Paragraph 14

In paragraph 2, insert after sub-paragraph (7)–

“(7A)

Subject to sub-paragraph (7), the aggregate benefit payable by way of lump sum must not exceed the lesser of–

(a)

three times the initial pension paid to the member under Part II and Part III excluding Chapter IV of Part III, and

(b)

one and a half times the member’s final remuneration.”.