Local Government (Superannuation) Act, 1956
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Determination of lump sum granted to pensionable officer. |
16.—(1) The amount of the lump sum to be granted under section 15 of this Act to a pensionable officer shall be equal to— | |
(a) one-thirtieth of his pensionable remuneration multiplied by the number of whole years in his service at the termination of his office, any odd fraction of a whole year being disregarded, or | ||
(b) one and one-half times his pensionable remuneration, | ||
whichever is the less. | ||
(2) Where subsection (6) of section 37 of the Act of 1948 applied in respect of a pensionable officer, in any application to him of subsection (1) of this section, that subsection shall be construed as if it provided that the lesser sum therein referred to should be increased by one-half per cent. of that sum multiplied by the number of whole years referred to in the said subsection (6). |