PART 5 Retirement benefits for teachers
CHAPTER 3Phased retirement
The reduced annual rate condition90.
A person (P) meets the reduced annual rate condition if—
(a)
P is in one or more eligible employments;
(b)
the terms of employment change and as a result there is a reduction in the annual rate of P's pensionable earnings; and
(c)
the reduced annual rate is not more than 80% of the average annual rate of P's pensionable earnings for the F112 months of pensionable service immediately before the reduction.