OpenLegislation

Paragraph 7

Original text. Later amendments are not shown.

(1)

If the participator retires on his 60th birthday, the permitted amount is the greater of E and F, where–

E

is 1/60th of his final remuneration for each of up to 40 years of relevant employment, and

F

is the lesser of G and H.

(2)

In sub-paragraph (1)–

G

is 1/30th of his final remuneration for each of up to 20 years of relevant employment, and

H

is 2/3rds of his final remuneration less any retained benefits.