1. The amount of a policeman’s deferred pension shall be calculated by reference to—
(a)the pensionable service he is entitled to reckon (here referred to as “actual service”);
(b)the pensionable service he would have become entitled to reckon had he continued to serve until he could retire with a maximum ordinary pension (disregarding Regulation B1(2)) or until he could be required to retire on account of age, whichever is the earlier, (here referred to as “hypothetical service”), and
(c)his average pensionable pay.