7

The annual rate of pension payable to the member under the 1988 scheme is the higher of —

a

the amount calculated by multiplying the accrual rate by the member’s final pay; or

b

where a member is entitled to a deferred pension under regulation B5 (member’s deferred pension) and under Part 6 (member’s deferred pension) of Schedule B, the amount of pension that would have been payable under the 1988 scheme if those provisions applied for the calculation instead of paragraphs (3) to (6) of this paragraph.