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(Regulations 3 and 4)
The amount referred to in regulations 3(3) and 4(2) shall be—
AV multiplied by A
where—
AV is the actuarial value as at 31st August 2001 of the transferring member’s accrued rights to benefits under the Scheme calculated in accordance with the method used for the purposes of calculating a club transfer payment between club schemes, including an adjustment for market conditions; and
A is an adjustment factor of 1.0125 raised to the power of n, where n is the number of complete years from 31st August 2001 to age 60 for the member in question. For any transferring member over the age of 60 on 31st August 2001, A will be 1.
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