PART 5Retirement benefits for teachers
CHAPTER 3Phased retirement
Cessation of phased retirement pension94.
(1)
A phased retirement pension ceases to be payable to a member (P) if—
(a)
in the 12 months after the entitlement day, the annual rate of P’s pensionable earnings increases; and
(b)
as a result, the increased annual rate is more than 80% of the average annual rate of P’s pensionable earnings in—
(i)
if P met the reduced annual rate condition, the 6 months of pensionable service immediately before the reduced annual rate took effect; or
(ii)
if P met the new employment condition, the last 6 months of the previous employment.
(2)
In this regulation, “increased annual rate” means the annual rate of P’s pensionable earnings in the 12 months after the entitlement day.