# The Railway Pensions (Substitution and Miscellaneous Provisions) Order 1995, Paragraph 6


(1) Subject to the provisions of paragraph 8, during each relevant period from the relevant date in relation to any Table B amount (“the relevant Table B amount”) interest shall accrue, on 13th October in each year, on the outstanding balance for the time being of the relevant Table B amount at the rate determined in accordance with sub–paragraph (2) in relation to the relevant Table B amount and in relation to the relevant period.
(2) The rate shall be—
((1+P100)×1.005×(ZW)-1)×100 per cent per annum.
(3) In this paragraph—
“P” equals
((1+Q2400)2-1)×100; “Q”, in relation to any Table B amount, equals the total of the real gross redemption yields on the FT actuaries index–linked gilt edged investment index for stocks over 5–years maturity (5% inflation) as at the close of business on the 14th day of each month (or, where that day is not a business day, the next following business day) in the period of 12 months starting 18 months before the relevant date in relation to that Table B amount;
“W” means the retail prices index for the month of September in the year before the year in which the relevant period begins;
“Z” means the retail prices index for the month of September in the year in which the relevant period begins; and
ZW , shall be calculated to three decimal places and, if
ZW is less than one, it shall be treated as W one.
“relevant date”, in relation to the relevant Table B amount, means 13th October in the year 10 years earlier than the year specified in column 1 of Table B in relation to that amount;
“relevant period” means the period of 12 months during which interest accrues under sub– paragraph (1), beginning on 14th October in any year.

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Source: https://www.legislation.gov.uk/uksi/1995/430/schedule/2/paragraph/6 (the official version)
Page: https://openlegislation.uk/railway-pensions-substitution-and-miscellaneous-provisions-order-1995/schedule-2/paragraph-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.