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5.—(1) A person’s compensation payment is calculated by subtracting his statutory redundancy payment, and specified compensation from his enhanced redundancy payment.
(2) A person’s enhanced redundancy payment is calculated by multiplying his statutory redundancy payment by 3.46.
(3) Subject to regulation 6(1)(b) ,the enhanced redundancy payment must not exceed the value of 104 weeks’ pay (as calculated for the purposes of the 1996 Order in accordance with Chapter 1V of Part 1 of that Order).
(4) For the purposes of paragraph (1), “specified compensation” is compensation paid or payable to that person:-
(a)under the Local Government (Early Termination of Employment) (Discretionary Compensation) Regulations (Northern Ireland) 2007; and
(b)regulations made under Article 19 of the Superannuation (Northern Ireland) Order 1972 prior to the date of making of these regulations.
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