Currently referees earn 2 referee points per section of adventure they ‘ref’.
A-Refs earn one referee point per section that they a-ref

Ref Points can only be used by referees for themselves – you cannot ‘spend’ them for others.

1 ref point may be exchanged into 5 monster points.
1 ref point may be used to increase the level of a character below 8th level by 1. It is possible to spend multiple ref points to increase a character by multiple levels.
This can only be done on a day when the character is to be played – and the spender needs to be ready in costume to do so. [cf. Spending monster points].

It is additionally possible to spend 1 ref point to recover 1 level lost for performing ‘off adventure’ tasks such as performing “Restore to Life” style effects, or perhaps in manufacturing artefacts. Once again all these actions need to be performed at the checking in desk.