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SCHEDULE 11Calculation of pension

PART 2Conversion of part of pension into lump sum

Protection of guaranteed minimum pension

5.  If the member has a guaranteed minimum under section 14 of the 1993 Act in relation to the whole or part of a pension, regulation 76 only applies to so much of the pension as exceeds that guaranteed minimum, multiplied by such factor as is indicated for a person of the member’s description in tables provided to the scheme manager by the scheme actuary.