Local, Government (Superannuation) Act, 1948

Determination of lump sum granted to established officer.

24.—The amount of the lump sum to be granted under section 23 of this Act to an established officer shall be equal to—

(a) one-thirtieth of his pensionable remuneration multiplied by the number of the years of his service at the termination of his office, or

(b) one and one-half times his pensionable remuneration, whichever is the less.