Paragraph 2

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

sch. 16 amended by Local Government Superannuation 1989
Sch.16, para.1 amended by Local Government Superannuation 1996 reg.14
Sch. 16 revoked by Local Government Pension Scheme (Transitional Provisions) 1998 reg. 27
Sch.16, Pt.I, para.1 am. rev. in pt. by Local Government Superannuation 1997 reg.37(a)
Sch.16, Pt.I, para.3 amended by Local Government Superannuation 1997 reg.37(b)
Sch.16, Pt.I, para.4(4)(b) revoked by Local Government Superannuation 1997 reg.37(c)
Sch.16, Pt.I, para.5 (defns. of material date and state scheme premiim) revoked by Local Government Superannuation 1997 reg.37(d)(i)
Sch.16, Pt.I, para.5 (defn. of protected rights) added by Local Government Superannuation 1997 reg.37(d)(ii)
sch. 16 amended by Housing (Superannuation Fund) 1989

(1)

The sums mentioned in paragraph 1 shall be calculated as follows—

(a)

the accrued pension shall be multiplied by the pension factor,

(b)

the accrued retiring allowance shall be multiplied by the retiring allowance factor,

(c)

the accrued modification shall be multiplied by the modification factor, and

(d)

the guaranteed minimum pension shall be multiplied by the guaranteed minimum pension factor,

such factors being the factors in the appropriate Table specified in sub-paragraph (3) in relation to the person’s age at the date when he ceased to be employed in local government employment.

(2)

The sum in respect of accrued widow’s pension shall be calculated by multiplying the accrued widow’s pension by 4 in the case of a transfer value payable under regulation J2 or J3(1), and by 2.4 in the case of a transfer value payable under regulation J14 or Q2(2).

(3)

For the purposes of sub-paragraph (1) the appropriate Table shall be—

(a)

in the case of a transfer value payable under regulation J2 or J3(1) the relevant Table in Part II, and

(b)

in the case of a transfer value payable under regulation J14 or Q2(2) the relevant Table in Part III.

(4)

The guaranteed minimum pension shall be the guaranteed minimum calculated in accordance with section 35 of the Pensions Act.