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39(1)The annual office-holder pension payable to an individual is an amount equal to the total of the individual's office-holder pension entitlements.S
(2)An individual obtains an office-holder pension entitlement in respect of each period for which he or she holds a pensionable office.
(3)The amount of an office-holder pension entitlement for such a period is calculated as follows—
“A” is the individual's reckonable service as an office-holder accrued when holding the office concerned in respect of which the individual made lower rate scheme member contributions, and
“B” is the individual's reckonable service as an office-holder accrued when holding the office concerned during which the individual made higher rate scheme member contributions.
(4)Where an individual's annual office-holder pension (including any enhancement made by virtue of other scheme rules) exceeds the individual's annual office-holder pension cap, the annual office-holder pension payable to the individual is to be reduced to the individual's annual office-holder pension cap. An individual's “annual office-holder pension cap” is—
(a)two-thirds of the final salary amount used to calculate the individual's office-holder pension entitlement, or
(b)where an individual has more than one such entitlement, two-thirds of the highest such final salary amount.
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