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Paragraph 3

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

Where the policeman retired after the beginning of the tax year in which he attains state pensionable age, the gratuity calculated in accordance with the preceding provisions of this Part shall be reduced by an amount equal to the capitalised value, as calculated by the Government Actuary, of the annual rate of any pension paid to him under Regulation J1(2) (policeman with a guaranteed minimum for the purposes of the Social Security Pensions Act 1975).