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Paragraph 5

Original text. Later amendments are not shown.

(1)

Subject to sub-paragraph (2), in respect of a teacher who is in excluded employment by virtue of an election under regulation B6 (membership), the transfer value calculated in accordance with this Part shall be the aggregate of the following:–

(a)

in relation to the teacher’s retiring allowance, that part of his accrued rights which bears the same proportion to his total accrued rights as his reckonable service after 5th April 1988 bears to his total reckonable service; and

(b)

in relation to his spouse’s pension, that part of his accrued rights applicable to service after 5th April 1988.

(2)

Sub-paragraph (1) shall not apply to a person whose reckonable service before 6th April 1988 amounts to less than 2 years.