Paragraph 11

The additional transfer value payable shall be calculated in accordance with the formula

$$\left(\mathrm{A}\times \mathrm{B}\times \mathrm{C}\right)+\mathrm{D}$$

where–

• A is the period of reckonable service calculated in accordance with regulation F2(6) of these Regulations;

• B is the appropriate factor in the Table below;

• C in the case of a teacher in pensionable employment is the pensionable salary at 1st April 1978 or, in the case of a person in receipt of retiring allowances, the pensionable salary at date of retirement (increased in accordance with the Pensions (Increase) Act 1971 as appropriate to his retiring allowances as at 1st April 1978 or appropriate later date);

• D is interest on (A × B × C) at the rate referred to in paragraph 1(b)(i), compounded with yearly rests, in respect of any period between 1st April 1978 and the day on which the transfer payment is made.