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(1) Subject to the provisions of this section, the final annual emoluments within the meaning of the law relating to pensions applicable to him, enjoyed by a person at the date of retirement shall be the emoluments on the basis of which his pension shall be calculated.

(2) Where a person exercises or is deemed to have exercised an option in the manner specified in subsection (1) (b) of section 4 of this Decree, his pension in respect of any period falling before the 1st day of January, 1972 shall be calculated on the basis of the approved annual pensionable emoluments attached at the time he retires to the post held by him on the 31st day of December, 1971 within the meaning of any law relating to pensions applicable to his post.

(3) In the case of a person who retires from the public service or the Police Force on or after the first day of January, 1976, where such person has been allowed (whether before or after such date) to transfer from the public service or the Police Force in respect of which his pension fall to be calculated to other employment, service in relation to which is not permitted to be taken into account for the calculation of such pension under the law relating to pensions under which the pension is to be calculated, the pensionable emoluments to be used in calculating his pension shall be the approved annual pensionable emoluments within the meaning of the said law attached, at the time he retires, to the post held by him immediately before his said transfer.