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39.—(1) This regulation applies to a 1995 officer transition member who is—
(a)a pensioner member of the new scheme to whom regulation 101(1) of the 2015 Regulations applies in respect of a pension under regulation 81 of those Regulations; and
(b)a pensioner member of the 1995 Section to whom regulation S2 of the 1995 Regulations applies in respect of a relevant pension referred to in paragraph (1A)(c)(i) of that regulation.
(2) Where this regulation applies, the pensions mentioned in paragraph (1)(a) and (b) must be reduced by the relevant amount.
(3) The “relevant amount” in paragraph (2) is the amount determined by multiplying the relevant proportion by amount E determined under paragraph (5).
(4) The “relevant proportion” in paragraph (3) is—
(a)in respect of the pension at paragraph (1)(a), represented by the fraction ; and
(b)in respect of the pension at paragraph (1)(b), represented by the fraction ,
where A and B have the meanings given in paragraph (5).
(5) Amount E is the amount by which the sum of amounts A, B and C exceeds amount D, where amount—
“A” is the amount of the enhancement under regulation 104(2) of the 2015 Regulations;
“B” is the amount of the member’s relevant pension from the 1995 Section (including in that amount any amount by which that pension has been reduced pursuant to an option under regulation E7);
“C” is the amount of earnings received by the employed person during the year from the new employment in accordance with regulation 104(1)(a) of the 2015 Regulations; and
“D” is the amount of the member’s previous earnings construed in accordance with regulation 105 of the 2015 Regulations.
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