Paragraph 4
For the purposes of paragraphs 2 and 3 the sum which a person had undertaken to pay by regular instalments in accordance with the relevant provisions of the Firemen's Pension Scheme and the sum paid by way of gratuity or return of aggregate contributions to a person who paid pension contributions under that Scheme at a rate related to 6% of his pensionable pay shall, respectively, be deemed to be the sum which he would have undertaken so to pay and the sum which would have been so paid had he paid pension contributions at a rate related to 5% of his pensionable pay.
Where the time limit mentioned in Rule 4(1)(c) is extended thereunder the amount to be deducted under paragraph 3 may be increased by an amount equal to compound interest thereon at the rate of 3% per annum, with half-yearly rests, in respect of the period beginning with whichever is the later of the two following dates, that is to say—
the first anniversary of the date on which the person ceased to be employed by the fire authority, or
the date on which he was paid his award,
and ending with the date on which he notifies the fire authority as mentioned in Rule 4(1)(d):
Provided that the increase in the amount to be deducted under paragraph 3 shall not exceed a half of the difference between the transfer value which would be payable but for this sub-paragraph and that which would be so payable if paragraph 1(2)(b)(i) applied.