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5. In the case of a Class C Member the total value of all benefits payable in any form other than non– commutable pension under the Scheme and any Associated Scheme shall not exceed an amount equal to the following:
(a)in the case of a Member leaving Service at Minimum Pension Age or attaining age 65 the aggregate of:
(1)the Member’s IR Limit Employment (subject to a maximum of 40 years) multiplied by ⅜ths of his or her Final Remuneration; and
(2)the Member’s Transferred Membership multiplied by ⅜ths of his or her Final Average Pay;
(b)in the case of a Member who leaves Service and qualifies for a pension on grounds of Incapacity the lump sum which could have been provided under section (a) above had the Member remained in Service until Minimum Pension Age, Final Remuneration being computed as at the day of leaving Service; or
(c)in the case of a Member who leaves Service before Minimum Pension Age but does not qualify for a pension on grounds of Incapacity the aggregate of:
(1)the Member’s IR Limit Employment (subject to a maximum of 40 years) multiplied by ⅜ths of his or her Final Remuneration; and
(2)the Member’s Transferred Membership multiplied by ⅜ths of his or her Final Average Pay
increased by the proportion (if any) by which the Index has increased between the day the Member left Service and the day his or her pension commences.
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