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.