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18. Any lump sum benefit (exclusive of any refund of the Member’s own contributions and any interest thereon) payable from the relevant Section on the death of a Member while in Service or having left Service entitled to a deferred pension shall under Rule 32 before the commencement of his pension from the relevant Section not be such that the aggregate thereof and of all like benefits under the Employers' Schemes would exceed the greater of:
(a)£5,000; and
(b)four times the Member’s Final Remuneration at the date of his death,
or such greater amount as will not prejudice the approval of the Scheme under the Taxes Act less, if the aggregate of such lump sums exceeds £2,500,
(i)any lump sum (other than a refund of his own contributions and any interest theron) payable on the death of the Member under all schemes of previous employers; and
(ii)any lump sum life assurance benefit payable on the death of the Member under a retirement annuity contract or trust scheme approved under Chapter III of Part XIV of the Taxes Act(1) or a Personal Pension Scheme.
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