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The Superannuation (Civil Service and Local Government) Interchange Rules 1968
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Payment in lieu of transfer value
14. The fund authority shall, upon the officer electing that this part of these rules shall apply to him, pay to the Treasury in respect of him a transfer value of an amount equal to the capitalised value of the annual superannuation allowance or annuity which he had been receiving from the fund authority under rule 5 of the Rules of 1935 or rule 9 of the Rules of 1936, and such capitalised value shall be calculated by reference to the officer's age at the date when he elects that these rules shall apply to him and to the amount of his allowance or annuity in the manner set out in the table contained in the schedule to these rules.
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