63.—(1) This regulation applies where a person's reckonable service is attributable to a period of employment which counts towards both—
(a)phased retirement benefits or retirement benefits under these Regulations, and
(b)a benefit (other than a benefit under these Regulations) payable directly or indirectly out of moneys provided by Parliament or from council tax levied by local authorities.
(2) But this regulation does not apply where the other benefit—
(a)is subject to reduction under regulation 142 of the Local Government Pension Scheme Regulations 1997 M1, or
(b)is payable under regulation 7 of the Teachers (Compensation for Redundancy and Premature Retirement) Regulations M2 1997.
(3) Except as provided in paragraphs (4) and (5), the person's phased retirement benefits or retirement benefits must be reduced by so much as is necessary to secure that A is reduced by B.
(4) A must not be reduced to less than C.
(5) A phased retirement pension or retirement pension must not be reduced so that so much of it as is attributable to the double period is below the rate of any equivalent pension benefits attributable to that period.
(6) In the case of a pension, the reduction must be applied to the amounts in paragraph (5)(a) and (b) of regulation 61 (annual rate of phased retirement and retirement pension) before any multiplication under paragraphs (6), (7) or (8) of that regulation.
(7) In the case of a lump sum, the reduction must be applied to the amount in paragraph (4) of regulation 62 (amount of phased retirement and retirement lump sum) before any multiplication under paragraph (6) of that regulation.
(8) In this regulation—
A is the actuarial value of the phased retirement or retirement benefits attributable to the double period;
B is the actuarial value of the other benefit attributable to the double period;
C is the actuarial value of the sum of—
the amount of contributions (including any paid under regulation C9 of TPR 1997 or regulation 19) paid by the person in respect of the double period, and
interest on those contributions at 3% per annum compounded with yearly rests from the first day of the financial year following that in which the contributions were paid to the date on which retirement benefits became payable to the person;
the “double period” means the period mentioned in paragraph (1);
“local authority” includes a non-metropolitan district council for an area for which there is a county council; the “other benefit” means the benefit mentioned in paragraph (1)(b) and includes any sum payable, whether as a continuing allowance or as a lump sum, by way of pension, superannuation allowance, compensation for loss of office or otherwise in respect of retirement.