The Local Government Superannuation Regulations 1986

2.—(1) The sums in respect of accrued pension, accrued retiring allowance and accrued modification shall be calculated by muliplying the accrued pension by the pension factor, the accrued retiring allowance by the retiring allowance factor and the accrued modification by the modification factor, such factors being the factors, in the appropriate table in Part II of this Schedule where regulation J14 or Q2(2) applies and Part III of this Schedule where regulation J2 or J3(1) applies, which are applicable to the person's age when he ceased to be employed in his local government employment.

(2) The sum in respect of accrued widow's pension shall be calculated by multiplying the accrued widow's pension by 2.4 where regulation J14 or Q2(2) applies and by 4 where regulation J2 or J3(1) applies.

(3) The sum in respect of the pensions increase liability on a person's guaranteed minimum pension shall be calculated by multiplying the annual equivalent of his guaranteed minimum in relation to his retirement pension in connection with his local government employment by the pensions increase liability factor in the appropriate table in Part IV of this Schedule which is applicable in relation to his age when he ceased to be employed in local government employment.

(4) The guaranteed minimum shall be calculated in accordance with section 35 of the Pensions Act (except that subsections (7) and (8) shall be ignored) by reference to the regulations applying in relation to that section, and the orders in force under section 21 of that Act, when the person ceased to be employed in his local government employment, and the annual equivalent of his guaranteed minimum shall be calculated by multiplying the guaranteed minimum by 52.18.