Paragraph 20

In paragraph 4 for sub-paragraph (1) substitute–

“(1)

Subject to sub-paragraph (1A), the aggregate pensions payable on retirement at NRD must not exceed the lesser of–

(a)

for Class B members, one thirtieth of the member’s final remuneration multiplied by his years of service, or 20 years if less

(b)

for Class C members with less than 10 years service, the member’s final remuneration multiplied by the fraction specified below–

1 to 5 years	1/60th for each year
6 years	8/60ths
7 years	16/60ths
8 years	24/60ths
9 years	32/60ths

(c)

two thirds of the member’s final remuneration less the value of any retained rights.

(1A)

But if it results in a higher sum than the maximum under sub-paragraph (1), the maximum aggregate pension on retirement at NRD is one sixtieth of the member’s final remuneration multiplied by his years of service or 40 years if less.”.