Paragraph 5 Computation of transfer value

The transfer value receivable under these rules in respect of a person who leaves approved employment in which he was a member of an approved pension scheme mentioned in the table in this schedule shall be calculated in accordance with the method described in schedule 1; but the service reckonable for the purpose of that scheme shall be adjusted by the percentage shown in column (5) of the table in this schedule against the name of the approved body in column (1).