Teachers' Superannuation Regulations (Northern Ireland) 1998

Limitation of retirement benefits where salary reduced

E7.—(1) Paragraphs (2) to (5) apply to a person who has made an election under regulation C1(6) (reduced salary treated as having continued at previous rate) and whose average salary falls to be calculated by reference to the notional rate.

(2) The annual rate of the person’s retirement pension shall not exceed the fraction of the appropriate sum ascertained, by reference to the relevant age, from the following Table:

TABLE

Relevant age	Fraction
Under 50	No math image to display
50	No math image to display
51	No math image to display
52	No math image to display
53	No math image to display
54	No math image to display

(3) Where the person has been in pensionable employment for less than 20 years, his retirement lump sum shall not exceed 3/80ths of the appropriate sum multiplied by the total of his reckonable service and the period ascertained, by reference to the number of complete years he has been in pensionable employment, from the following Table:

TABLE

Years in pensionable employment	Period of years
19	17
18	15
17	13
16	11
15	9
14	7
13	5
12	4
11	3
10	2
9	1
Fewer than 9	0

(4) Where the person has been in pensionable employment for 20 years or more his retirement lump sum shall not exceed the appropriate sum multiplied by 1½.

(5) The appropriate sum referred to in paragraph (4) is the greater of—

(a) the person’s contributable salary for the best one of his last 5 years in pensionable employment; and

(b) 1/3rd of his aggregate contributable salary for his best 3 consecutive years in pensionable employment within the 10 years ending with its cessation,

and for the purposes of paragraph (2) the relevant age is his age when he first entered pensionable employment, unless he was not continuously in pensionable employment in which case it is the figure obtained by subtracting the number of years in pensionable employment from 60.