The Teachers' Superannuation (Consolidation) Regulations 1988

PART II ADDITIONAL TRANSFER VALUES IN RESPECT OF WAR SERVICE

8.  The additional transfer value payable in respect of a person under regulation F2 is—

where—

• A is the amount of his pensionable emoluments,

• B is the length of the war service by virtue of which regulation 7 of the 1976 Regulations applied to him,

• C is the factor ascertained from the table in Part II of Schedule 8, and

• D is interest on

  

  at 9 per cent per annum, compounded with 3-monthly rests, for each complete period of 3 months after 31st March 1978 and before the date of payment.

9.—(1) The pensionable emoluments of a person who on 1st April 1978 was in service in which he was subject to the qualifying public service scheme are the annual value of so much of his emoluments as was then pensionable under the scheme.

(2) In any other case, a person’s pensionable emoluments are E+F, where—

• E is the annual value of so much of his emoluments as was pensionable under the scheme when he ceased to be in service or employment in which he was subject to it, and

• F is the annual amount (if any) by which, by 1st April 1978, E would have been increased if it had been the annual rate of an official pension, within the meaning of the Pensions (Increase) Act 1971(1), beginning, and first qualifying for increases under that Act, when he ceased to be in such service or employment.

(1)

1971 c. 56.