SCHEDULE 2DETERMINATION OF ANNUAL AND INITIAL PAYMENTS
Cap on expected pension and actual pension7
1
Where the amount of a qualifying member's expected pension determined in accordance with the previous provisions of this Schedule multiplied by F40.9 , F1... exceeds F3£26,000, the amount of the annual payment payable to, or in respect of, that member under paragraphs 3 to 5 shall be determined on the basis that the product of that calculation was F3£26,000.
2
Where the amount of a qualifying member's actual pension determined in accordance with paragraph 2 exceeds—
a
b
F3£26,000,
no annual payment shall be payable to, or in respect of, that member.