Part EBenefits
Amount of retirement lump sum
E6.—(1) Subject to paragraph (2) and regulations E7 and E8, the amount of a person’s retirement lump sum is
where—
A is 3/80ths of his average salary;
B is his effective reckonable service (except any falling within C); and
C is any period which he is entitled to count as reckonable service by virtue of regulation D3.
(2) If the person’s effective reckonable service is restricted by regulation E32(2), the part of his retirement lump sum that is attributable to service before he attained the age of 60 shall not exceed his average salary multiplied by 1½.