
PART I
1 
These regulations may be cited as the Iron and Steel (Compensation
to Employees) Regulations 1968, shall come into operation 14 days after they
have been approved by resolution of each House of Parliament and shall have
effect from 28th July 1967.
2 

(1) In these regulations—

 “the Act” means 
the Iron and Steel Act 1949
as revived and amended by the Iron and Steel Act 1967;

 “added years” means years purchased under the provisions of the last relevant pension
scheme for the purpose of being reckoned as pensionable service;

 “the Corporation” means the British Steel Corporation;
 “enactment” means any Act or any instrument made under an Act;
 “last relevant pension scheme”
 means the pension scheme to which a
pensionable officer was last subject before suffering loss of employment or
loss or diminution of emoluments or pension rights in consequence of a relevant
event;
 “long-term compensation”
 means compensation payable in accordance
with Part IV of these
regulations for loss of employment or loss or diminution of emoluments;

 “material date” means in the case of a person to whom these regulations apply and—
(a) who
is or has been an officer of a company which came into public ownership under Part II of the Act, the date on
which the relevant event occurred in consequence of which he suffered loss
of employment or loss or diminution of emoluments or pension rights as the
case may be;
(b) who has been an officer of the Iron and Steel Board established
under Part II of
the Iron and
Steel Act 1953, 27th August 1967;
 “minimum pensionable age”
 means, in relation to a pensionable
officer, the earliest age at which, under his last relevant pension scheme,
he could have become entitled to the immediate payment of a pension, other
than a pension payable in consequence of his redundancy or his incapacity
to discharge efficiently the duties of his employment by reason of permanent
ill-health or infirmity of mind or body;
 “national service” means service which is relevant service within the meaning of the Reserve and Auxiliary Forces (Protection
of Civil Interests) Act 1951, and includes
service immediately following such service as aforesaid, being service in
any of Her Majesty's naval, military or air forces pursuant to a voluntary
engagement entered into with the consent of the person under whom an officer
held his last relevant employment;
 “net annual emoluments”
 in relation to any employment means
, subject to the provisions of regulation 38,
the annual rate of the emoluments of that employment less such part of those
emoluments as the officer was liable to contribute under a pension scheme
associated with his employment (but including any part of those emoluments
payable in respect of additional voluntary contributions); and in relation
to any employment which has been lost or the emoluments of which have been
diminished, the expression means the annual rate of emoluments as aforesaid
immediately before the loss or diminution, as the case may be;

 “normal retiring age”
means, in the case of a pensionable officer, in relation
to whom his last relevant pension scheme prescribes an age at which he becomes
or would have become entitled to receive a normal retirement pension, that
age and, in any other case, the age of 65 years, if the officer is a male,
or 60 years if the officer is a female;
 “pensionable officer”,
in relation to a person to whom these regulations apply who has suffered loss
of employment or loss or diminution of emoluments or pension rights in consequence
of a relevant event, means such a person who immediately
before such loss or diminution was subject to a pension scheme;

 “reckonable service”,
in relation to a person to whom these regulations apply, means any period of any relevant employment which is not a period in respect
of which a pension (other than a return of contributions) has been paid or
will become payable otherwise than under the last relevant pension scheme,
and includes any period of war service or national service undertaken on his
ceasing to hold any such employment;
 “relevant employment”
means whole-time employment in the service of—
(a) 
the Corporation; or
(b) a publicly-owned company (including service before the coming into
public ownership of that company); or
(c) the Iron and Steel Board; or
(d) the Iron and Steel Corporation of Great Britain established under
the Iron and Steel Act 1949;
or
(e) a previous owner of an undertaking owned by a publicly-owned company;
or
(f) any organisation representative of the interests of iron and steel
producers as defined by section 47(2)
of the Iron
and Steel Act 1967; or
(g) a company, not being a publicly-owned company, which during the
period of whole-time employment was wholly or mainly engaged in iron and steel
activities as defined by subsection (4)
of the said section 47; or
(h) an organisation wholly or mainly engaged in undertaking research
in relation to iron and steel activities, as so defined, as a common service
for iron and steel producers as so defined; or
(i) the Crown,
 “relevant event”, in
the case of a person who is or has been an officer of a company which came
into public ownership under Part II
of the Act means—
(a) the company so coming into public ownership;
or
(b) effect being given to conclusions reported under section 4 of the Iron and Steel Act 1967
to the Minister; or
(c) effect being given to a direction given by the Minister by virtue
of section 7(2)
of that Act, and, in the case of a person who has been an officer
of the Iron and Steel Board, means the dissolution of that Board;
 “resettlement compensation”
 means compensation payable in accordance
with Part III of
these regulations for loss of employment;
 “retirement compensation”
 means compensation payable in accordance
with Part V of these
regulations for loss or diminution of pension rights;
 “tribunal” means a tribunal established under section 12 of the Industrial Training
Act;
 “war service” means war service within the meaning of the Local Government Staffs (War Service) Act 1939,
the Teachers Superannuation (War Service)
Act 1939, the Education (Scotland) (War Service Superannuation) Act 1939,
the Police and Firemen (War Service)
Act 1939 or employment for war purposes, within
the meaning of the Superannuation Schemes (War Service)
Act 1940 and includes any period of service
in the first world war in the armed forces of the Crown or in the forces of
the allied or associated powers if such service immediately followed a period
of relevant employment and was undertaken either compulsorily or with the
permission of the employer in that employment;
 “whole-time employment”
 means employment after reaching the
age of 18 years, being employment to which the employee is required to devote
on the average not less than 30 hours per week.
(2) 
(a) Where under any
provision of these regulations an annual value is to be assigned to a capital
sum or a capital value to an annual amount, the annual or capital value shall
be ascertained in accordance with the tables contained in the schedule hereto
in so far as they provide for the particular case.
(b) For the purpose
of determining the application of the said tables the headings and the note
to each table shall be treated as a part of the table.
(c) Where the said
tables do not provide for a case in which an annual value is to be assigned
to a capital sum or a capital value to an annual amount, the annual or capital
value shall be such as may be agreed between the Corporation and the person
to whom the capital sum or annual amount is payable.
(3) Expressions used
in these regulations shall, unless the contrary intention appears, have the
same respective meanings as in the Act.
(4) Unless the context
otherwise requires, references in these regulations to the provisions of any
enactment shall be construed as references to those provisions as amended,
re-enacted or modified by any subsequent enactment.
(5) The Interpretation Act 1889
shall apply to the interpretation of these regulations as it applies to the
interpretation of an Act of Parliament.
PART II
3 
These regulations apply to any person who—
(a) was employed immediately
before 22nd March 1967 in whole-time employment either as an officer of a
company which came into public ownership under Part II
of the Act or of the Iron and Steel Board, or
(b) would have been
so employed at that date but for any national service on which he was then
engaged.
4 

(1) A person to whom
these regulations apply by virtue of regulation 3(b)
shall be deemed not to have suffered loss of employment or loss or diminution
of emoluments or pension rights unless he gives notice in writing to the Corporation
in accordance with paragraph (3) that he is available for employment and he
is either not given or offered re-employment in his former office or in any
reasonably comparable office, or is given or offered such re-employment with
reduced emoluments or pension rights as compared with the emoluments and pension
rights which he would have enjoyed had he continued in his former office.

(2) If the ground of
a claim for compensation under paragraph (1) is for loss of employment or
loss or diminution of pension rights that loss shall for the purposes of these
regulations be treated as having occurred on the earlier of the two following
dates, that is to say, the date of the refusal of re-employment or a date
one month after the date on which the person gave notice that he was available
for employment, and the person shall be deemed to have been entitled to the
emoluments or the pension rights which he would have enjoyed or been entitled
to at such earlier date had he continued in his former office.
(3) Notice shall be
given in writing to the Corporation before the expiry of 2 months after ceasing
to be engaged on national service or of 2 months after the coming into operation
of these regulations, whichever is the later or, if prevented by sickness
or other reasonable cause, as soon as practicable thereafter.
PART III
5 

(1) The Corporation
shall, subject to the provisions of these regulations, pay resettlement compensation
to any person to whom these regulations apply who—
(a) has suffered
loss of employment in consequence of a relevant event not later than 10 years
after the material date;
(b) had not at
the date of the loss reached normal retiring age;
(c) had been continuously
engaged (disregarding breaks not exceeding in the aggregate 6 months) in relevant
employment during the period beginning 3 years before the material date and
ending at the date of the loss; and for this purpose the expression “relevant
employment” includes any period
of national service immediately following such employment;
(d) has made a
claim for compensation in accordance with the provisions of Part VII of these regulations
not later than 13 weeks after the loss of employment which is the cause of
his claim or 13 weeks after the coming into operation of these regulations,
whichever is the later.
(2) Resettlement compensation
shall not, however, be paid—
(a) to a person
who has suffered loss of employment in consequence of a relevant event, if
his employment could have been terminated by reason of misconduct or incapacity
to perform such duties as, immediately before the loss of employment, he was
performing or might reasonably have been required to perform; or
(b) to a person
who has been offered reasonably comparable employment under the Crown or in
the service of the Corporation or of a publicly-owned company.
(3) In ascertaining
for the purposes of paragraph (2) of this regulation whether a person has
been offered employment which is reasonably comparable with the employment
which he has lost, no account shall be taken of the fact that the duties of
the employment offered involve a transfer of his employment from one place
to another within Great Britain.
(4) No account shall
be taken for the purposes of this regulation of an offer of employment where
the Corporation are satisfied—
(a) that acceptance
would have involved undue hardship to the person; or
(b) that he was
prevented from accepting the offer by reason of ill-health or other circumstances
beyond his control.
6 

(1) The amount of resettlement
compensation payable to a person shall, for each week for which such compensation
is payable, be a sum ascertained by taking two thirds of the weekly rate of
the net annual emoluments which that person has lost and deducting therefrom
such of the following items as may be applicable—
(a) unemployment,
sickness or injury benefit under any enactment relating to National Insurance
claimable by him in respect of such week (excluding any amount claimable by
him in respect of a dependant); and
(b) two thirds
of the net annual emoluments received by him in respect of such week from
work or employment undertaken in place of the employment which he has lost.

(2) For the purposes
of this regulation the weekly rate of a person's net annual emoluments shall
be deemed to be seven three hundred and sixty-fifths of those emoluments.

(3) Nothing in this
regulation shall prevent effect being given to any other provision of these
regulations empowering the withholding or reduction of, or making deduction
from, resettlement compensation.
7 
Resettlement compensation shall be payable to a person only in
respect of the period of 13 weeks next succeeding the week in which he lost
the employment in respect of which the compensation is payable or, in the
case of a person who has at the date of losing that employment reached the
age of 45 years, the said 13 weeks extended by one additional week for every
year by which his age then exceeds the age of 45 years, subject to a maximum
addition of 13 such weeks.
8 
Every claimant for resettlement compensation shall (after as well
as before the compensation begins to be paid)—
(a) forthwith supply
the Corporation in writing with particulars of any employment which he obtains
or of any change in his earnings from any such employment; and
(b) register with the
Department of Employment and Productivity, so long as he is out of employment
and is not receiving sickness or injury benefit, unless the Corporation has
in writing notified him that he is not required by them so to register.
9 
Subject to the provisions of these regulations, resettlement compensation
shall be payable to a person at intervals equivalent to those at which the
emoluments of his employment were previously paid or at such intervals as
may be agreed between the person and the Corporation, and shall forthwith
be terminated by the Corporation if, on being requested to do so, he fails
to satisfy the Corporation that, so far as he is able, he is seeking suitable
employment.
PART IV
10 

(1) The Corporation
shall, subject to the provisions of these regulations, pay long-term compensation
to any person to whom these regulations apply, who—
(a) has suffered
loss of employment or loss or diminution of emoluments in consequence of a
relevant event not later than 10 years after the material date;
(b) had not, save
as is provided in regulation 15,
at the date of the loss or commencement of the diminution reached normal retiring
age;
(c) had been continuously
engaged (without a break of more than 12 months at any one time) in relevant
employment during the period beginning 8 years before the material date and
ending at the date of the loss; and for this purpose the expression “relevant
employment” includes any period
of national service immediately following such employment;
(d) has made a
claim for compensation in accordance with the provisions of Part VII of these regulations
not later than 2 years after the date on which the loss of employment or emoluments
took place or the commencement of the diminution of emoluments began in respect
of which the claim is made or 2 years after the coming into operation of these
reggulations, whichever is the later.
(2) Long-term compensation
shall not, however, be paid:—
(a) to a person
who has suffered loss of employment in consequence of a relevant event, if
his employment could have been terminated by reason of misconduct or incapacity
to perform such duties as, immediately before that loss of employment, he
was performing or might reasonably have been required to perform; or
(b) to a person
who has been offered reasonably comparable employment under the Crown or in
the service of the Corporation or of a publicly-owned company.
(3) 
Regulation 5(3) and (4) (which relate to offers
of employment) shall apply for the purposes of this regulation as they apply
for the purposes of regulation 5.

(4) Claims for long-term
compensation for loss of employment shall in all respects be treated as claims
for such compensation for the loss of emoluments occasioned thereby and the
provisions of these regulations shall apply to all such claims accordingly.

11 

(1) For the purpose
of determining the amount of long-term compensation, if any, the loss or diminution
of emoluments suffered by a person shall be regarded as the annual loss or
diminution (if any) of net annual emoluments which he would have suffered
had he taken all reasonable steps open to him to mitigate that loss or diminution,
and in assessing the loss or diminution such of the following factors as are
relevant to the particular case shall be taken into consideration:—

(a) the conditions
upon which the person held the employment which he has lost or the emoluments
of which have been lost or diminished, including in particular its security
of tenure, whether by law or practice;
(b) the emoluments
and other conditions, including security of tenure, whether by law or practice,
of any work or employment undertaken by the person in place of the employment
which he has lost;
(c) the period
for which he might reasonably have been expected to have remained in the employment
which he has lost, or to have remained in that employment without diminution
of emoluments, as the case may be, but for the relevant event in consequence
of which he has suffered the loss or diminution;
(d) the period
for which he might reasonably have been expected to engage or remain in the
work or employment undertaken in place of the employment which he has lost
or the emoluments of which have been lost or diminished;
(e) the extent
to which he has sought suitable employment or training for such employment
and the emoluments which he might have acquired by accepting other suitable
employment offered to him;
(f) all the other
circumstances of the case.
(2) In ascertaining
for the purposes of sub-paragraph (e) of paragraph
(1) whether a person has been offered suitable
employment, regulation 5(4)
shall apply as it applies for the purposes of regulation 5.

12 

(1) Subject to the
provisions of these regulations, long-term compensation for loss of emoluments
shall consist of an annual sum payable until the normal retiring age or death
of a person to whom it is payable, whichever first occurs, and shall be the
amount of the annual loss of emoluments which he has suffered assessed in
accordance with regulation 11,
not, however, exceeding the maximum annual sum provided for in the following
provisions of this regulation.
(2) The said maximum
annual sum shall, subject as hereinafter provided, be the aggregate of the
following sums:—
(a) for every year
of the person's reckonable service, one sixtieth of the annual loss of emoluments
so assessed; and
(b) in the case
of a person who has reached the age of 40 years at the date of the loss, a
sum calculated in accordance with the provisions of paragraph (3) appropriate
to his age at that date:Provided that the
said maximum annual sum shall in no case exceed two thirds of the annual loss
of emoluments so assessed.
(3) The sum referred
to in paragraph (2)(b) shall be:—

(a) in the case
of a person who has reached the age of 40 years but has not reached the age
of 50 years at the date of the loss, the following fraction of the annual
loss of emoluments so assessed—
(i) where his
reckonable service is less than 10 years, one sixtieth for each year of such
service after reaching the age of 40 years; or
(ii) where
his reckonable service amounts to 10 years but is less than 15 years, one
sixtieth for each year of such service after reaching the age of 40 years
and one additional sixtieth; or
(iii) where
his reckonable service amounts to 15 years but is less than 20 years, one
sixtieth for each year of such service after reaching the age of 40 years
and two additional sixtieths; or
(iv) where
his reckonable service amounts to 20 years or more, one sixtieth for each
year of such service after reaching the age of 40 years and three additional
sixtieths,but the sum so calculated shall not in any case exceed one sixth
of the annual loss of emoluments so assessed;
(b) in the case
of a person who has reached the age of 50 years but has not reached the age
of 60 years at the date of the loss, one sixtieth of the annual loss of emoluments
so assessed for each year of his reckonable service after reaching the age
of 40 years, up to a maximum of 15 such years; and
(c) in the case
of a person who has reached the age of 60 years at the date of the loss, one
sixtieth of the annual loss of emoluments so assessed for each year of his
reckonable service after reaching the age of 45 years.
(4) Long-term compensation
determined under this regulation shall be payable to a person by instalments
at intervals equivalent to those at which the emoluments of his employment
were previously paid or at such intervals as may be agreed between the person
and the Corporation.
(5) Long-term compensation
payable in respect of a period for which resettlement compensation is also
payable shall be reduced by the amount of that resettlement compensation.

13 

(1) Long-term compensation
payable for diminution of emoluments shall, subject to the provisions of these
regulations, consist of an annual sum payable until the normal retiring age
or death of a person to whom it is payable, whichever first occurs, and shall
be the amount of the annual diminution which he has suffered assessed in accordance
with regulation 11,
not however exceeding the annual sum which bears to the maximum annual sum
which could have been awarded to him under regulation 12
if he had suffered loss of emoluments the same ratio as the amount by which
his net annual emoluments have been diminished bears to his net annual emoluments
before diminution, so however that no compensation shall be payable under
this regulation if the ratio is less than 2½%.
(2) Long-term compensation
determined under this regulation shall be payable to a person by instalments
at intervals equivalent to those at which the emoluments of his employment
are or were previously paid or at such intervals as may be agreed between
the person and the Corporation.
14 

(1) Long-term compensation
shall be payable with effect from the date on which the claim is received
unless made payable from an earlier date under the succeeding provisions of
this regulation.
(2) Where a claim for
long-term compensation is made within 13 weeks of the occurrence of the loss
or the commencement of the diminution which is the subject of the claim, or
of the coming into operation of these regulations whichever is the later,
the compensation shall be payable with effect from the date on which the loss
occurred or the diminution commenced.
(3) Where a claim for
long-term compensation is made after the expiry of the period mentioned in
paragraph (2), the compensation may, at the discretion of the Corporation,
be made payable with effect from a date not earlier than 13 weeks prior to
the date on which the claim was received:Provided that if the
Corporation are satisfied that the failure to make the claim within the period
mentioned in paragraph (2) was due to ill-health or other circumstances beyond
the claimant's control, the compensation may be made payable with effect from
a date not earlier than that on which the loss occurred or the diminution
commenced.
15 

(1) Where a person
to whom these regulations apply and who is not a pensionable officer is receiving
long-term compensation for loss of employment and reaches normal retiring
age, the Corporation shall, if satisfied that the person would, but for the
loss, have continued in the employment he has lost for a substantial period
beyond that age, continue to pay compensation to him for the remainder of
his life at half its former rate.
(2) Where a person
to whom these regulations apply and who is not a pensionable officer suffers
loss of employment in consequence of a relevant event on or after reaching
normal retiring age, the Corporation shall, if satisfied that the person would
in the normal course have continued in the employment he has lost for a further
substantial period, pay compensation to him for the remainder of his life
at half the rate which would have been payable under regulation 12 had he not attained
normal retiring age on or before the date on which he lost his employment.

PART V
16 

(1) The Corporation
shall, subject to the provisions of these regulations, pay retirement compensation
to any pensionable officer to whom these regulations apply, who—
(a) has suffered
loss or diminution of pension rights in consequence of a relevant event not
later than 10 years after the material date;
(b) had not at the
date on which the loss or diminution was occasioned reached normal retiring
age;
(c) had been continuously
engaged (without a break of more than 12 months at any one time) in relevant
employment during the period beginning 8 years before the material date and
ending at the date of the loss; and for this purpose the expression “relevant
employment” includes any period
of national service immediately following such employment;
(d) has made a claim
for compensation in accordance with the provisions of Part VII of these regulations
not later than 2 years after the date on which the loss or diminution was
occasioned or 2 years after the coming into operation of these regulations,
whichever is the later; and
(e) has reached
normal retiring age or has elected to take retirement compensation earlier
in accordance with the following provisions of this Part of these regulations.

(2) Retirement compensation
shall not, however, be paid:—
(a) to a person
who has suffered loss or diminution of pension rights which has been occasioned
by loss of employment in consequence of a relevant event, if his employment
could have been terminated by reason of misconduct or incapacity to perform
such duties as, immediately before that loss of employment, he was performing
or might reasonably have been required to perform; or
(b) to a person
who has been offered reasonably comparable employment under the Crown or in
the service of the Corporation or of a publicly-owned company and who would
not have suffered a loss or diminution of pension rights had he accepted that
employment; or
(c) to a person
who has suffered a diminution of pension rights which has been occasioned
by a diminution in his emoluments of less than 2½%.
(3) 
Regulation 5(3) and (4) (which relate to offers
of employment) shall apply for the purposes of this regulation as they apply
for the purposes of regulation 5.

(4) References in this
Part of these regulations to the date on which a loss or diminution of pension
rights was occasioned shall subject to regulation 4(2)
be interpreted as references to the date on which the loss of employment or
emoluments took place or on which the diminution of emoluments began or the
change in the terms of service occurred which occasioned the loss or diminution
of pension rights.
17 
For the purpose of determining the amount of retirement compensation,
if any, the loss or diminution of pension rights suffered by a person shall
be regarded as the loss, if any, (adjusted in the case of diminution as provided
in the following regulation) which he would have suffered had the conditions
specified in any of the three following regulations as being appropriate to
his case obtained and had he taken all reasonable steps open to him to mitigate
the loss or diminution, and in assessing the loss (so adjusted in case of
diminution) such of the factors specified in regulation 11
as are relevant to the particular case shall be taken into consideration,
and in particular the following shall be taken into consideration—
(a) the terms of any
pension scheme associated with any new employment undertaken; and
(b) the extent to which
the person in question has sought pensionable employment, and the terms of
any pension scheme which would have applied if he had accepted other suitable
employment offered to him.
18 

(1) Subject to the provisions
of these regulations, retirement compensation to be paid pursuant to regulation 16 to a person who
has reached normal retiring age without having elected under either regulation 19 or regulation 20
to take retirement compensation earlier shall consist of—
(a) in the case
of a person who has suffered loss of pension rights—
(i) an annual
sum equivalent to the loss of any sum which under the last relevant pension
scheme would have become payable to him in each year after retiring at normal
retiring age;
(ii) a lump
sum equivalent to the loss of any lump sum which would have become payable
under that scheme on retiring at that age;assessed in accordance with regulation 17,

(b) in the case
of a person who has suffered a diminution of pension rights under the last
relevant pension scheme by reason of a diminution of emoluments, the annual
sum and the lump sum which respectively bear the same ratio to the sums which
would be payable under the preceding provisions of this paragraph, had he
suffered a loss of pension rights, as the amount by which his net annual emoluments
have diminished bears to his net annual emoluments before diminution, and

(c) in the case
of a person who has suffered a diminution of pension rights for any other
reason, the sums which would be payable under (a)
of this paragraph, had he suffered a loss of pension rights, respectively
reduced by the amount of any sum payable under the last relevant pension scheme
in each year after retirement compensation becomes payable and by the amount
of any lump sum paid or payable under that scheme.
(2) The condition appropriate
to the case of a person claiming retirement compensation under this regulation
(which in accordance with regulation 17
is to be regarded as having obtained for the purpose of assessing loss or
diminution of pension rights) is that the pensionable service which is to
be taken into account for the purposes of the last relevant pension scheme
is the pensionable service which would have been taken into account if on
the date immediately preceding that on which the loss or diminution of pension
rights was occasioned—
(a) he had reached
normal retiring age and had then retired;
(b) he had complied
with any requirement of the last relevant pension scheme as to a minimum period
of qualifying service or contribution;
(c) he had continued
any additional voluntary contributions until normal retiring age and had completed
any payments in respect of added years which he was in the course of making;

(d) he had served
for any additional period provided for in regulation 23.

(3) The sum referred
to in paragraph (1)(a) which under the
last relevant pension scheme would have been payable to a person in each year
after retiring at normal retiring age shall be calculated without taking account
of any reduction falling to be made in that sum by reason of the provisions
of any Act relating to National Insurance, until he reaches the age at which
under the last relevant pension scheme that sum would have been so reduced.

19 

(1) A person to whom
retirement compensation will be payable pursuant to regulations 16 and 18 on his reaching
normal retiring age (if he does not elect to take it earlier under this or
the following regulation) may claim, before reaching that age and by notice
in writing to the Corporation, to be paid retirement compensation in accordance
with this regulation if since the date on which the loss or diminution of
pension rights was occasioned he has either:—
(a) become incapacitated
in circumstances in which, if he had continued to be a pensionable officer,
he would by reason of that incapacity have become eligible for a pension under
the last relevant pension scheme; or
(b) reached the
minimum pensionable age;such retirement compensation as from the date from which it is
payable to be in lieu of all other compensation payable as from that date
under these regulations.
(2) For the purpose
of determining the retirement compensation payable to a person claiming under
this regulation, regulation 18
shall apply as it applies to a person who has reached normal retiring age,
but subject to the provisions as to determining compensation hereinafter in
this regulation stated and in the case of such incapacity as is mentioned
in paragraph (1)(a) subject to the substitution
for (a) of regulation 18(2)
of the following—“
(a) he had become
incapacitated in circumstances in which he would by reason of that incapacity
have become eligible for a pension under the last relevant pension scheme.”
(3) Within 13 weeks
of the receipt of a claim under paragraph (1)of this regulation the Corporation:—

(a) shall, if they
do not consider that the claimant is eligible for payment of retirement compensation
assessed under this regulation, so notify him in writing;
(b) shall, if they
do consider that he is eligible, assess the retirement compensation to be
paid and notify him in writing accordingly;and any such notification shall for the purposes of these regulations
be deemed to be a notification by the Corporation of a decision on a claim
for compensation.
(4) The Corporation
may require any person who makes a claim for retirement compensation under
paragraph (1)(a) of this regulation to
submit himself to a medical examination by a registered medical practitioner
selected by the Corporation, and, if they do so, they shall also offer the
person an opportunity of submitting a report from his own medical adviser
as a result of an examination by him, and the Corporation shall take that
report into consideration, together with the report of the medical practitioner
selected by them when considering the claim.
(5) If a person elects
to receive compensation under this regulation, he shall so inform the Corporation
in writing within one month from the receipt of a notification under paragraph
(3) or, where the claim has been the subject of an appeal, from the decision
of the tribunal thereon, and if he fails to do so he shall be deemed to have
elected not to receive such compensation.
(6) On a person electing
to receive retirement compensation under this regulation in accordance with
paragraph (5), such retirement compensation shall be payable as from the date
on which the Corporation received notice in writing of the claim in accordance
with paragraph (1) and if any compensation under these regulations has been
paid in lieu of which by virtue of that paragraph retirement compensation
under this regulation is payable, payments of such retirement compensation
shall be withheld or reduced accordingly.
(7) The computation
of compensation under this regulation shall be subject to the following conditions:—

(a) where the Corporation,
by virtue of regulation 23
has taken into account a period of additional years, that period shall not
include any additional years beyond the number of years which the person in
question has served or could have served, had he not lost his employment,
before the date on which the claim was received by the Corporation; and
(b) if, by reason
of any provision of the last relevant pension scheme for a minimum benefit,
the amount of the pension which would have been payable under that scheme
is in excess of that attributable to the person's actual service, no account
shall be taken of any such period of additional years except to the extent
(if any) by which it exceeds the number of years represented by the difference
between his actual service and the period by reference to which the minimum
benefit has been calculated; and
(c) if the number
of years of pensionable service taken into account in accordance with regulation 18 as applied by paragraph
(2) of this regulation is less than the minimum number of years of qualifying
service prescribed by the last relevant pension scheme, the annual sum and
lump sum payable as retirement compensation under this regulation shall, notwithstanding
any minimum benefit prescribed by the pension scheme, not exceed such proportion
of such minimum benefit as the number of years of pensionable service so taken
into account bears to that minimum number of years of qualifying service.

20 

(1) A person to whom
retirement compensation will be payable pursuant to regulations 16 and 18 on his reaching
normal retiring age (if he does not elect to take it earlier under this or
the preceding regulation) by reason of his having lost employment as a pensionable
officer, if at the date of the loss he had reached 50 years of age, may, before
reaching normal retiring age and by notice in writing to the Corporation,
claim to be paid retirement compensation assessed in accordance with this
regulation, such retirement compensation as from the date on which it is payable
to be in lieu of all compensation payable as from that date under these regulations
other than resettlement compensation.
(2) No claim under this
regulation shall be entertained if the claimant has also claimed long-term
compensation and the claim under this regulation is made more than 2 years
after the determination of the claim for long-term compensation or after any
review of that determination.
(3) For the purpose
of determining the retirement compensation payable to a person claiming under
this regulation, regulation 18
shall apply as it applies to a person who has reached normal retiring age,
but subject to the omission of (d) of regulation 18(2).
(4) Paragraphs (3), (5) and (6) of regulation 19
shall apply in relation to a claim made under this regulation as they apply
in relation to a claim made under regulation 19.

21 

(1) A person to whom
retirement compensation will be payable shall pay to the Corporation an amount
equal to any sum which was paid to him by way of return of pension contributions,
including any interest, after ceasing to be employed, and the Corporation
may at his request repay that amount to him at any time before retirement
compensation is payable, but if that amount is not paid to the Corporation,
or is repaid by them to the person, the retirement compensation payable to
him shall be reduced by an annual amount the capital value of which is equal
to the amount of the said pension contributions.
(2) For the purposes
of this regulation the expression “pension contributions”
 shall include payments made by the person
in respect of added years.
22 
Where a pensionable officer to whom these regulations apply, after
the date on which a loss or diminution of pension rights was occasioned in
consequence of a relevant event, enters employment other than that in which
he suffered that loss or diminution and for the purpose of a pension scheme
associated with that new employment there falls to be taken into account any
period of service which also falls to be taken into account as being service
reckonable under the last relevant pension scheme for the purpose of assessing
any retirement compensation payable to him, then:—
(a) subject as is in
this regulation stated, the foregoing provisions of this Part of these regulations
shall apply to him as if he had suffered a diminution in pension rights occasioned
by an annual diminution of emoluments as a pensionable officer to whom these
regulations apply which is equivalent to the amount by which his net annual
emoluments, as they were immediately before the date on which the loss or
diminution of pension rights in respect of which retirement compensation is
payable was occasioned, exceed his net annual emoluments in his new employment
immediately after entering that employment; and
(b) if his claim to
retirement compensation is for diminution of pension rights by reason of his
emoluments having diminished, the retirement compensation payable shall not
exceed the retirement compensation which would have been payable if he had
not entered new employment.
23 

(1) Subject as hereinafter
stated, in calculating the maximum retirement compensation payable to a person
who has reached the age of 40 years at the date on which the loss or diminution
of pension rights was occasioned, in addition to the service taken into account
as being reckonable for the purposes of his last relevant pension scheme,
a period not exceeding the aggregate of the following shall also be taken
into account as if it were so reckonable, and retirement compensation shall
be adjusted accordingly, that is to say—
(a) 2 years, whether
or not he has completed any years of service after reaching the age of 40
years; and
(b) 2 years for
each complete year of reckonable service, not exceeding 4 years of reckonable
service in all, which elapsed between the date of his reaching the age of
40 years and the date on which the loss or diminution of pension rights was
occasioned; and
(c) one year for
each such complete year after the fourth of reckonable service so elapsing:
Provided that the
aggregate of the additional years taken into account shall not exceed any
of the following:—
(i) 
the number of years reckonable for the purposes of the last relevant pension
scheme for which he would have served after the date on which the loss or
diminution of pension rights was occasioned had he continued to be employed
as an officer subject to that scheme until normal retiring age; or
(ii) 
the number of years of his reckonable service on that date; or
(iii) 
15 years.
(2) In applying the
method of calculation prescribed by the last relevant pension scheme for the
purposes of determining retirement compensation, any period added under this
regulation shall be aggregated with any years of service which under that
scheme entail reduction of a pension benefit because of a retirement pension
payable under section 30
of the National
Insurance Act 1965
(3) This regulation
shall not apply to retirement compensation payable in accordance with regulation 20.
24 
If retirement compensation is payable in respect of the loss or
diminution of rights to a pension which under the last relevant pension scheme
would have been increased or supplemented in specified circumstances, or might
at the discretion of the body administering the scheme have been increased
or supplemented to a specified extent, the Corporation shall in those circumstances,
or may at their discretion, as appropriate, increase or supplement to a proportionate
extent the corresponding component of retirement compensation, and in the
exercise of this discretion the Corporation shall have regard to the terms
of any relevant resolution of the body administering the pension scheme with
regard to the increase of benefits.
25 
If under his last relevant pension scheme a person would have been
entitled to surrender a proportion of any pension which might have become
payable to him in favor of his spouse or any dependant, then, if he so desires
and informs the Corporation by notice in writing accordingly within one month
after becoming entitled to retirement compensation under these regulations,
he may surrender a proportion of as much of the said compensation as is payable
by way of an annual sum on the like terms and conditions and in consideration
of the like payments by the Corporation as if the said annual sum were a pension
to which he had become entitled under the said pension scheme.
26 

(1) If a person to whom
retirement compensation is or will be payable dies before he has received
by way of retirement compensation sums which in the aggregate are equivalent
to the amount of any contributions repaid by him under regulation 21, together with compound
interest thereon up to the date of his death calculated at the rate and in
the manner specified in the last relevant pension scheme (or where no rate
is so specified at the rate of 3 per cent. per annum with half-yearly rests
as from 1st April or 1st October next following the half-year in which the
amount was repaid), and no pension or gratuity falls to be paid to his personal
representatives, or to his widow, or any dependant of his, by reason of his
having been immediately or prospectively entitled to retirement compensation,
there shall be paid to his personal representatives the difference between
the aggregate amount which he has received by way of retirement compensation
as aforesaid and the said equivalent sum with interest.
(2) For the purposes
of this regulation a person who has surrendered any part of his retirement
compensation under regulation 25
shall be deemed to have received during any period the amount of compensation
for that period which he would have received but for any such surrender.
27 
Retirement compensation payable as an annual sum to or in respect
of any person shall be payable at intervals equivalent to those at which the
corresponding benefit would have been payable under the person's last relevant
pension scheme or at such intervals as may be agreed between the person entitled
to receive the compensation and the Corporation.
PART VI
28 

(1) Where any period
of service of which account was taken in calculating the amount of any compensation
payable under Part IV or V
of these regulations is subsequently taken into account for the purpose of
calculating the amount of any pension benefit payable to any person in accordance
with a pension scheme associated with any employment undertaken subsequent
to the loss or diminution of emoluments or of pension rights which was the
subject of the claim for compensation, the Corporation may in accordance with
this regulation withhold or reduce the compensation payable in respect of
any period for which such pension benefit is being received.
(2) If the part of
any pension benefit by way of annual amounts which is attributable to a period
of service mentioned in paragraph (1) equals or exceeds the part of any compensation
by way of annual amounts which is attributable to the same period, that part
of the compensation may be withheld, or if such part of the pension benefit
is less than such part of the compensation, the compensation may be reduced
by an amount not exceeding such part of the pension benefit.
(3) In addition to
any reduction authorised by paragraph (2), if, in the circumstances mentioned
in paragraph (1), compensation by way of annual amounts is attributable in
part to any provision of the last relevant pension scheme for a minimum benefit,
the compensation may be reduced by an amount not exceeding that part.
(4) In addition to
any other reduction authorised by this regulation, where any period of additional
years has been taken into account under regulation 23
compensation by way of annual amounts may be reduced—
(a) if the number
of such years is equal to or less than the period spent in the subsequent
employment mentioned in paragraph (1),by an amount not exceeding that attributable
to the additional years so taken into account;
(b) if the number
of such years is greater than the period spent in the subsequent employment
so mentioned, by such proportion of that amount as the period spent in the
subsequent employment bears to the number of additional years so taken into
account.
(5) Where retirement
compensation has been calculated in accordance with regulation 22 the provisions of
this regulation shall apply only in relation to such part (if any) of the
pension benefit as is attributable to annual emoluments in excess of those
to which the person was entitled immediately after entering the new employment.

(6) Where compensation
is payable in respect of diminution of emoluments or of diminution of pension
rights in consequence of diminution of emoluments, the provisions of this
regulation shall apply only in relation to such part (if any) of the pension
benefit as is attributable to annual emoluments in excess of those to which
the person was entitled immediately prior to the diminution.
29 

(1) If under a person's
last relevant pension scheme any benefit for which the scheme provided would
have been subject to reduction or suspension on his taking up other specified
employment, any retirement compensation to which he is entitled for loss or
diminution of pension rights shall, where such employment is taken up, be
reduced or suspended in the like manner and to the like extent:Provided that in calculating
the amount of the reduction there shall be aggregated with the emoluments
of the employment taken up the amount of any pension benefit by way of annual
amounts payable under the last relevant pension scheme.
(2) There shall be
deducted from the retirement compensation payable to any person any additional
voluntary contributions remaining unpaid at the date when he suffered loss
of employment; and any such payments not recovered at the date of his death
shall be deducted from any balance payable under regulation 26.

(3) Where a person
is entitled to any compensation under these regulations and the circumstances
are such that he is eligible to receive one or more of the following payments—

(a) a redundancy
payment under the Redundancy Payments Act 1965
;
(b) any payment
to compensate for the loss of his employment made under a contract or arrangement
with the Iron and Steel Board or the publicly-owned company by which he was
employed or the Corporation, or in satisfaction of damages or compensation
(otherwise than by virtue of these regulations) awarded or claimed against
the Board, the company or the Corporation;
(c) any payment
under or by virtue of the provisions of any enactment relating to the reinstatement
in civil employment of persons who have been in the service of the Crown,
the compensation payable to the person, whether by instalments
or lump sum or both, shall in the aggregate be reduced by the amount of the
payments referred to in this paragraph.
(4) Where any resettlement
or long-term compensation is payable under these regulations to any person
who is also entitled to a pension benefit under the last relevant pension
scheme any instalment of such compensation which is payable in respect of
any period shall be reduced by the amount of the instalment of such pension
benefit which is payable in respect of the same period.
(5) For the purposes
of paragraph (4) no account shall be taken of any sum payable in consequence
of the surrender by any person of part of his pension benefit under any provision
in that behalf in his last relevant pension scheme with a view to obtaining
or increasing allowances for his spouse or any dependant; and he shall be
deemed to have received during any period the amount of pension benefit which
he would have received but for any such surrender.
(6) Subject to the
following provisions of this regulation, where in any week a person is entitled
to long-term compensation and is also entitled to unemployment, sickness or
injury benefit under any Act relating to National Insurance, other than a
benefit claimable by him in respect of a dependant, there shall be deducted
from the long-term compensation payable for that week a sum equal to the amount
by which the aggregate of such National Insurance benefit claimable in respect
of that week and the weekly rate at which the long-term compensation would
be payable but for this regulation exceeds two-thirds of the weekly rate of
the net annual emoluments of the employment which he has lost or in which
the emoluments have been diminished.
(7) Paragraph (6) shall
not apply in relation to any such sickness or injury benefit in so far as
an equivalent sum is deducted from the emoluments of his current employment
and such deduction from those emoluments has not occasioned an increase in
his long-term compensation.
(8) In paragraph (6)
the expression “weekly rate” means 
seven three hundred and sixty-fifths of the relevant annual rate.

30 
Where—
(a) a pensionable officer
after suffering loss of employment or loss or diminution of emoluments or
pension rights enters any employment referred to in regulation 22 or becomes entitled
to any pension benefit on ceasing to hold such employment; or
(b) a person entitled
to long-term compensation enters employment the remuneration whereof is payable
by the Corporation or a publicly-owned company, or ceases to hold such employment,
or receives any increase in his remuneration in such employment; or
(c) a person entitled
to retirement compensation enters employment in which the compensation is
subject to reduction or suspension under regulation 29,
or ceases to hold such employment, or receives any increase in his remuneration
in such employment; or
(d) a person entitled
to long-term compensation starts to receive any benefit, any increase in benefit
or any further benefit under any Act relating to National Insurance;
he shall forthwith give notice in writing thereof to the
Corporation.
31 

(1) In a case where
an annual sum which has been or might be awarded under these regulations does
not exceed £26, the Corporation may, at their discretion, compound their
liability in respect thereof by paying a lump sum equivalent to the capital
value of the annual sum, and, if any lump sum payment has been or might be
awarded in addition to such annual sum under regulation 18, 19 or 20,
the Corporation may likewise discharge their liability in respect thereof
by an immediate payment.
(2) In any other case,
if a person who has been awarded long-term or retirement compensation requests
them to do so the Corporation may, after having regard to the state of health
of that person and the other circumstances of the case, compound up to one
quarter of their liability to make payments under the award by payment of
an equivalent amount as a lump sum, or, where any compensation has been awarded
as a lump sum, by increasing that compensation to such equivalent amount;
and in calculating for this purpose the liability of the Corporation to make
such payments, account shall be taken of the annual value of lump sum payments
of compensation.
(3) The making of a
composition under paragraph (2)
in relation to an award of long-term or retirement compensation shall not
prevent the subsequent making of a composition under paragraph (1) in relation to that
award, but, subject as aforesaid, not more than one composition may be made
in relation to any award.
PART VII
32 

(1) Every claim for
compensation under these regulations and every request for a review of an
award of long-term or retirement compensation shall be made in accordance
with this regulation.
(2) Every such claim
and request shall be made to the Corporation in a form approved by them, and
shall state whether any other claim for compensation has been made by the
claimant under these regulations.
(3) Resettlement compensation
may however be claimed separately from any other form of compensation claimable
under these regulations.
(4) The Corporation
shall, provided that the person making the claim or request has complied with
the provisions of this Part of these regulations, notify him in writing of
their determination—
(a) in the case
of a claim for resettlement compensation, not later than one month after the
receipt of the claim; and
(b) in the case
of a claim for, or request for the review of an award of, compensation under Part IV or V of these regulations,
not later than 13 weeks after the receipt of the claim or request; and
(c) in any other
case, as soon as possible after the determination.
(5) A determination
of the Corporation shall not be invalidated by reason of the fact that notice
of the determination is given after the expiry of the period mentioned in paragraph (4) unless the claimant
has meanwhile instituted an appeal in accordance with regulation 34 and that appeal
is not withdrawn.
(6) For the purposes
of an appeal under regulation 34
a failure of the Corporation to comply with the provisions of the preceding
paragraph within the period there mentioned shall be treated as a rejection
of the claim in question.
(7) Every notification
of a determination by the Corporation granting or refusing compensation or
reviewing an award, or otherwise affecting any compensation under these regulations
shall contain a statement—
(a) giving reasons
for the determination;
(b) showing how
any compensation has been calculated and, in particular, showing the factors
taken into account in assessing loss or diminution of emoluments or pension
rights; and
(c) directing
the attention of the claimant to his right under regulation 34,
if he is aggrieved by the determination, to bring an appeal before a tribunal
and giving him the address to which the application instituting an appeal
should be sent.
33 

(1) Any person claiming
or receiving compensation or whose award of compensation is being reviewed
shall furnish all such information as the Corporation may at any time reasonably
require; and he shall verify the same in such manner, including the production
of books or of original documents in his possession or control, as may be
reasonably so required.
(2) Any such person
shall, on receipt of reasonable notice, present himself for interview at such
place as the Corporation may reasonably require; and any person who attends
for interview may, if he so desires, be represented by his adviser.
34 

(1) A claimant who
is aggrieved by any determination of the Corporation as to whether any or
what compensation under these regulations is payable to him may within 13
weeks of the notification to him of the determination bring an appeal before
a tribunal in accordance with the Industrial Tribunals (Employment and Compensation) Regulations
1967or,
in Scotland, the s1967no362 Industrial Tribunals (Employment
and Compensation) (Scotland) Regulations 1967, and these regulations.
(2) For the purpose
of any such proceedings a person or persons may be appointed to sit with the
tribunal as assessor or assessors.
35 

(1) The Corporation
shall, within a period of 2 years after the date on which any determination
on a claim for long-term or retirement compensation (other than compensation
payable under regulation 20)
is notified to a claimant under regulation 32,
review their determination or, where the claim has been the subject of an
appeal, the decision of the tribunal, at intervals of not more than 6 months,
and these regulations shall apply in relation to any such review as they apply
in relation to the initial determination of the claim; and on such review,
in the light of any material change in the circumstances of the case, compensation
may be awarded, or compensation previously awarded may be increased, reduced
or discontinued, subject to the limits set out in these regulations:Provided that where
the claimant ceases to hold the employment in which his emoluments were diminished
a review shall be held within 3 months after that date.
(2) After the expiration
of the period mentioned in paragraph (1)
the Corporation may, at their discretion, carry out reviews in accordance
with that paragraph at intervals of not less than 12 months.
(3) The person to
whom the determination relates may, at any time, require the Corporation to
carry out a review in accordance with paragraph (1)
if he considers that there has been a change in the circumstances of his case
which is material for the purposes of these regulations.
(4) Notwithstanding
anything contained in the foregoing provisions of this regulation—
(a) the Corporation shall in accordance with paragraph (1)
review a determination of the Corporation or a decision of the tribunal, as
the case may be, on a claim for long-term compensation for loss of employment
after the expiration of the period mentioned in the said paragraph if at any
time subsequent to the loss of employment the person to whom the determination
or decision relates enters employment (hereinafter referred to as his “current
employment”) the remuneration whereof is payable by the
Corporation or a publicly-owned company; and
(b) the Corporation
shall further review in accordance with paragraph (1)
any determination or decision reviewed under the foregoing provisions of this
paragraph whenever the emoluments of the current employment of the person
in question are increased.
(5) The Corporation
shall give to a person to whom a determination or decision relates not less
than 14 days' notice of any review of that determination or decision to be
carried out under this regulation unless the review is carried out at his
request.
(6) Nothing in this
regulation shall preclude the making of any adjustment of compensation required
by regulation 28 or 29
or the withholding, reducing or deducting from compensation under any other
provision of these regulations.
36 

(1) In the event of
the death of a claimant or of a person who, if he had survived, could have
been a claimant, a claim for compensation under these regulations may be continued
or made, as the case may be, by his personal representatives.
(2) Where any such
claim is continued or made as aforesaid by personal representatives, the personal
representatives shall, as respects any steps to be taken or thing to be done
by them in order to continue or make the claim, be deemed for the purposes
of these regulations to be the person entitled to claim, but, save as aforesaid,
the person in whose right they continue or make the claim shall be deemed
for the purposes of these regulations to be such person, and the relevant
provisions of these regulations shall be construed accordingly:Provided that the Corporation
may in any such case extend the period within which a claim is required to
be made by regulation 5, 10, 16 or 20.

PART VIII
37 
For the purpose of making any calculation under these regulations
in respect of a person's reckonable service, all periods of such service shall
be aggregated and, except where reference is made to completed years of service,
if the aggregated service includes a fraction of a year, that fraction shall,
if it equals or exceeds 6 months, be treated as a year, and shall, in any
other case be disregarded.
38 

(1) For the purposes
of determining whether any and what compensation is payable under these regulations,
emoluments in relation to any person shall not include payments for overtime,
other than payments which are a usual incident of his employment, or any allowances
payable to him to cover the cost of providing office accommodation or clerical
or other assistance, or any travelling or subsistence allowance or other moneys
to be spent, or to cover expenses incurred by him, for the purposes of his
employment, or any fees paid otherwise than in respect of services rendered
as an officer or any emoluments paid to him solely by reason of his being
a director of a company.
(2) Where fees or
other variable payments were paid to a person as part of his emoluments during
any period immediately preceding the loss or diminution the amount in respect
of fees or other variable payments to be included in the annual rate of emoluments
shall be the annual average of the fees or other payments paid to him during
the period of 3 years immediately preceding the loss or diminution, or such
shorter period as may be reasonable in the circumstances.
(3) When calculating
the net annual emoluments of any employment any amount by which the said emoluments
exceed £8,000 shall be disregarded.
39 
In assessing for the purposes of these regulations the amount of
any emoluments or pension rights lost, or the amount by which any emoluments
or pension rights have been diminished, and in determining net annual emoluments
of any person who has suffered such a loss or diminution, no account shall
be taken of any increase in the amount of the person's emoluments which is
attributable to any temporary allowance made in consequence of his temporary
occupation of an office to which he has not been substantively appointed or
in respect of temporary responsibilities additional to those normally attaching
to his office.
40 
Resettlement and long-term compensation, and retirement compensation
payable as an annual sum, shall accrue from day to day and be apportionable
accordingly.
41 
Subject to any statutory provision in that behalf, any compensation
to which a person becomes entitled under these regulations shall be paid to
or in trust for him, and shall not be assignable.
42 
Except in so far as the Minister may otherwise direct, compensation
under these regulations shall not be payable to a person for so long as he
fails to comply with regulations 8, 30 or 33.

43 
Without prejudice to any other right of recovery there may be,
any sum or any part of a sum paid under these regulations to a person in error,
including any sum or part of a sum paid notwithstanding that by virtue of regulation 42 it is not payable,
may be recovered by the Corporation by deduction from any compensation payable
to that person under these regulations.
Roy Mason
Minister of Power
Dated 22nd July 1968
SCHEDULE


 Capital value of £1
per annum payable for life
Age 
 Female Male
 £ s. d. £ s. d.
Under 35 15 11 0 15 3 0
35 and under 40 15 2 0 14 12 0
40 and under 45 14 11 0 13 19 0
45 and under 50 13 18 0 13 2 0
50 13 9 0 12 11 0
51 13 5 0 12 7 0
52 13 2 0 12 3 0
53 12 18 0 11 18 0
54 12 14 0 11 14 0
55 12 10 0 11 9 0
56 12 6 0 11 5 0
57 12 2 0 11 0 0
58 11 18 0 10 15 0
59 11 13 0 10 10 0
60 11 8 0 10 5 0
61 11 4 0 10 0 0
62 10 19 0 9 14 0
63 10 14 0 9 9 0
64 10 8 0 9 3 0
65 10 3 0 8 18 0
66 9 18 0 8 12 0
67 9 12 0 8 7 0
68 9 7 0 8 1 0
69 9 1 0 7 16 0
70 8 15 0 7 10 0NOTE:—This table
is for use in connection with regulation 31(1)
and (2)
for the compounding of annual retirement compensation which a person is currently
entitled to receive under regulation 18, 19 or 20.
Where the compensation is payable before age 60 (females), 65 (males) but
will be reduced on reaching that age (in connection with National Insurance
pension) the table should be used in conjunction with Table II, i.e.Table II should
be used for valuing that part of the compensation which ceases to be payable
at 60 (65) and this table should be used for valuing the remainder.

TABLE II
 Capital value
Age 
 Female Male
 £ s. d. £ s. d.
Under 35 13 8 0 14 2 0
35 and under 40 12 5 0 13 3 0
40 and under 45 10 14 0 11 19 0
45 and under 50 8 13 0 10 8 0
50 7 3 0 9 6 0
51 6 12 0 8 18 0
52 6 0 0 8 9 0
53 5 7 0 7 19 0
54 4 13 0 7 10 0
55 3 18 0 6 19 0
56 3 3 0 6 8 0
57 2 6 0 5 17 0
58 1 9 0 5 4 0
59  10 0 4 11 0
60  —  3 17 0
61  —  3 2 0
62  —  2 6 0
63  —  1 8 0
64  —   10 0
NOTE:—This table
is for use in connection with regulation 31(1)
and (2)
for the compounding of any part of annual retirement compensation which will
cease to be payable on reaching age 60 (females), 65 (males).Table I should
be used in relation to the remainder of such compensation, i.e. the part which
is payable for life—see note on that table.

TABLE III
 Annual sum, payable for life,
equal in value to a lump sum of £100
Age 
 Female Male
 £ s. d. £ s. d.
Under 35 6 8 7 6 12 0
35 and under 40 6 12 5 6 17 0
40 and under 45 6 12 5 7 3 4
45 and under 50 7 3 11 7 12 8
50 7 8 8 7 19 4
51 7 8 8 7 19 4
52 7 12 8 8 4 7
53 7 15 0 8 8 1
54 7 17 6 8 10 11
55 8 0 0 8 14 8
56 8 2 7 8 17 9
57 8 5 3 9 1 10
58 8 8 1 9 6 0
59 8 11 8 9 10 6
60 8 15 5 9 15 1
61 8 18 7 10 0 0
62 9 2 8 10 6 2
63 9 6 11 10 11 8
64 9 12 4 10 18 7
65 9 17 0 11 4 9
66 10 2 0 11 12 7
67 10 8 4 11 19 6
68 10 13 11 12 8 5
69 11 1 0 12 16 5
70 11 8 7 13 6 8
NOTE:—This table
is for use in connection with regulation 21(1)
for ascertaining the annual amount by which retirement compensation under regulation 18,19 or 20 is to be
reduced where a claimant has not paid to the Corporation an amount equal to
any sum paid to him by way of pension contributions or that amount has been
repaid to him by the Corporation at his request. It should also be used in
connection with regulation 31(2)
for calculating for the purposes of that paragraph the annual value of retirement
compensation awarded as a lump sum.

TABLE IV
Outstanding number of complete years of long-term
compensation Capital value
of each £100 of the total amount of long-term compensation
 Female Male
 £ s. d. £ s. d.
0 98 8 0 98 4 0
1 95 4 0 94 16 0
2 92 2 0 91 10 0
3 89 4 0 88 6 0
4 86 8 0 85 8 0
5 83 16 0 82 14 0
6 81 6 0 80 2 0
7 78 18 0 77 14 0
8 76 14 0 75 8 0
9 74 12 0 73 4 0
10 72 12 0 71 4 0
11 70 12 0 69 6 0
12 68 16 0 69 6 0
13 67 0 0 65 14 0
14 65 6 0 64 2 0
15 63 14 0 62 10 0
16 62 2 0 61 0 0
17 60 12 0 59 12 0
18 59 4 0 58 4 0
19 57 16 0 56 18 0
20 56 10 0 55 12 0
21 55 4 0 54 8 0
22 54 0 0 53 4 0
23 52 16 0 52 0 0
24 51 12 0 50 18 0
25 50 10 0 49 18 0
26 49 8 0 48 18 0
27 48 8 0 47 18 0
28 47 8 0 46 18 0
29 46 8 0 45 18 0
30 45 10 0 45 0 0
NOTE:—This table
is for use in connection with regulation 31(1)
and (2)
for compounding awards of long-term compensation under Part IV. The total amount of the
annual long-term compensation which is to be compounded must first be calculated,
i.e. the amount which the person would receive on account of that compensation,
or the part of it which is to be compounded if it were paid until “normal
retiring age” (as defined in regulation 2(1)).
For each £100 so calculated, the lump sum payment will be the amount
shown in the table according to the number of complete years in the period
between the date of compounding and “normal retiring age”.
