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.