The Teachers' Superannuation (Additional Voluntary Contributions) Regulations 1989 No. 946

SCHEDULE 2 BENEFIT LIMITS

PART II retirement pensions

7.—(1) If the participator retires on his 60th birthday, the permitted amount is the greater of E and F, where–

E is 1/60th of his final remuneration for each of up to 40 years of relevant employment, and

F is the lesser of G and H.

(2) In sub-paragraph (1)–

G is 1/30th of his final remuneration for each of up to 20 years of relevant employment, and

H is 2/3rds of his final remuneration less any retained benefits.