Part VI I1

The additional transfer value payable under regulation J3(2) and the transfer value that may be accepted where regulation J8(5) applies is in each case (A × B × C) + D, where—

• A is the period—

  1. (a)

     which the person would have been entitled to reckon as reckonable service by virtue of regulation F6(1)(a) or (b), or

  2. (b)

     which would have been taken into account in calculating additional benefits in accordance with regulation F6(13), or

  3. (c)

     which he would have been entitled to reckon under the war service provisions of the public service scheme,

  as the case may be,

• B is the figure in column (2) or (3) of the Table below appropriate to the person's age on 1st April 1978 and sex,

• C is either—

  1. (a)

     the annual rate of the person's remuneration at 1st April 1978, ascertained in accordance with paragraph 4 of Part V of this Schedule as if he had ceased to be employed on that date, or

  2. (b)

     if on that date he was entitled to a pension, the amount used as a multiplier in respect of remuneration in calculating the pension, increased by the annual amount (if any) by which an annual pension at a rate equal to that amount of remuneration, and beginning on the same date as the person's pension, would by 1st April 1978 have been increased under the Pensions (Increase) Act 1971^f1, and

• D is compound interest on (Ax BX C), calculated, in the case of an additional transfer value payable under regulation J3(2), in accordance with regulation J7, in respect of the period beginning on 1st April 1978 and ending with the date on which the transfer value or additional transfer value is paid.