Marginal Citations
M1Source—1987 (No. 2) c. 51, Sch.3 Pt. II
6(1)This paragraph applies where an employee becomes a member of the scheme on or after 17th March 1987.
(2)If the rules of the scheme allow the employee to obtain, (by commutation of his pension or otherwise), a lump sum or sums calculated by reference to his relevant annual remuneration, they shall have effect as if they included a rule that in calculating a lump sum any excess of that remuneration over the permitted maximum should be disregarded.
Modifications etc. (not altering text)
C1 See S.I.1988 No.1436 (in Part III Vol.5)for circumstances when paras.2-4and 5(2), 5(3), 6and 7disapplied, and when paras.5(3), (4)modified.