# The Railway Pensions (Transfer and Miscellaneous Provisions) Order 1994, Paragraph 11


(1) Lump sum benefits which would be payable on the death after 30th September 1994 of a participant while accruing benefits in the transferor scheme shall be ignored to the extent that they would exceed the amount determined as a result of carrying out the calculation specified in sub-paragraph (2) of this paragraph.
(2) The calculation referred to in sub-paragraph (1) of this paragraph is:—
B×3.75%×(N÷4) where
B the lump sum benefit which would be payable on the death of the participant; and
N the number of years of his participation up to 30th September 1994.

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Source: https://www.legislation.gov.uk/uksi/1994/2005/schedule/1/paragraph/11 (the official version)
Page: https://openlegislation.uk/railway-pensions-transfer-and-miscellaneous-provisions-order-1994/schedule-1/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.