TNAG-0697-FCO40-847-Pension-scheme-for-governors-1978 — Page 58

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SECTION 5:

CALCULATION OF YEARLY AMOUNT OF PENSION CONSISTING PARTLY OR WHOLLY OF CAPITAL SUM

5.1 Where part of a pension under this Scheme or the whole or part of any other

pension has been commuted by the payment of a capital sum, the yearly amount of

the pension shall be taken to be what it would have been but for the commutation;

but the yearly amount of any other capital sum paid on or in respect of

retirement shall be taken to be the yearly amount which would actuarially be the

equivalent of that sum.

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