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Increase of scheduled (Part III) pension.
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5.—(1) A scheduled (Part III) pension which is less than the amount specified in subsection (2) of this section shall be increased to that amount.
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(2) The amount referred to in subsection (1) of this section is—
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(a) the amount obtained by—
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(i) recalculating the pension in question by reference to a cost-of-living index figure of 185, and
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(ii) increasing such pension, as so recalculated, by the appropriate sum, or
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(b) the amount obtained by recalculating the pension in question by reference to a cost-of-living index figure of 270,
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whichever is the less.
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