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Regulation 54 Effect of increases under this Chapter for older members

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

This regulation applies where a member—

(a)

is entitled under this Chapter to count an additional period as a period of membership, and

(b)

was aged at least 45 on the first day of the earliest period of membership he is entitled to count.

(2)

Where this regulation applies the retirement pension—

(a)

to which the member would otherwise be entitled under regulation 25, or

(b)

to which he would otherwise be entitled under regulation 31 (before applying any reduction under paragraph (4) of that regulation),

is increased by multiplying his final pay by the length in years of the additional period and dividing the resulting amount by 240.

(3)

The additional period does not count in the calculation of the standard retirement grant.