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Articles 16(2) and (3) and 18(7)
1.—(1) Paragraph 2 has effect subject to Parts IV, VIII and IX.
(2) In paragraph 2, A is the person’s average pensionable pay.
2.—(1) The amount of a deferred pension is the lesser of—
and—
where—
B is the amount of the person’s notional retirement pension,
C is the period in years of his pensionable service, and
D is the period in years of his notional service.
(2) A person’s notional retirement pension is—
where—
E is the period in years of his notional service up to 20 years, and
F is the period in years by which his notional service exceeds 20 years.
(3) A person’s notional service is the period in years that he would have been entitled to reckon as pensionable service if he had continued to serve until—
(a)he could retire with a maximum ordinary pension (disregarding article 13(2)); or
(b)he reached normal pension age,
whichever is the earlier.
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