SCHEDULES
SCHEDULE 5Occupational Pension Schemes
PART IApproved Schemes : Conditions as Respects Benefits
Limit on employee's lump sum benefits
3
The aggregate value of the relevant benefits payable to an employee on or after retirement, excluding any pension which is not commutable, must not exceed three-eightieths of his final remuneration for each year of service up to a maximum of 40.