The Federated Superannuation System for Universities (War Service) Regulations 1949

4.—(1) Subject to the provisions of these Regulations a Department may, in the case of any officer to whom these Regulations apply, make a payment (hereinafter referred to as “the war service contribution”) for the benefit of such officer in manner hereinafter provided.

(2) The war service contribution shall, subject to the provision of Regulation 5 hereof, be the aggregate of—

(a) a sum (in this Regulation referred to as “the capital sum”) determined by the Treasury to be equivalent to 5 per cent. of the aggregate of the notional salary of the officer for the period of his war service beginning after he had attained the age at which, in the opinion of the Treasury, he might but for war circumstances have been appointed to the Civil Service of the State in the class in which he was in fact appointed, and

(b) a sum equivalent to compound interest on the capital sum at the rate of 3 per cent. per annum, with annual stops, from the date which fell half way between the commencement and the termination of the period mentioned in sub-paragraph (a) of this paragraph until the date when the special contribution is applied in manner provided by the next succeeding paragraph of this Regulation.

(3) The war service contribution shall (together with any sum not exceeding one half thereof which the officer may elect to pay to the Department for that purpose) be applied by the Department in such manner as may be provided in the superannuation scheme operated under the Federated Superanuation System for Universities to which the officer is subject for the application of contributions paid under that scheme, or in such other manner as the Treasury may prescribe.