The Teachers' Pensions Regulations 2010

Phased retirement benefits E+W+S

58.—(1) This regulation applies where a person (P) makes an election under regulation 57 (election to receive phased retirement benefits).

(2) A phased retirement pension is payable to P from the relevant date.

(3) Except as otherwise provided in these Regulations, the pension is payable for life.

(4) If P is a pre-2007 entrant or a person with mixed service, a phased retirement lump sum is payable to P on the relevant date.

(5) The annual rate of a phased retirement pension and the amount of any phased retirement lump sum are to be calculated in accordance with regulations 61 (annual rate of phased retirement and retirement pension) and 62 (amount of phased retirement and retirement lump sum) except as provided in the following paragraphs.

(6) P's average salary must be calculated as if P's average salary service ended on the date of change.

(7) Where the election under regulation 57 (election to receive phased benefits) is P's first—

(a) a reference to P's NPA 60 reckonable service to which a Case applies must be taken to be a reference to P's NPA 60 reckonable service up to and including the date of change multiplied by the fraction specified in the notice of the election in accordance with regulation 57(12)(a);

(b) a reference to P's NPA 65 reckonable service to which a Case applies must be taken to be a reference to P's NPA 65 reckonable service up to and including the date of change multiplied by the fraction specified in the notice in accordance with regulation 57(12)(b).

(8) Where the election under regulation 57 is P's second—

(a) a reference to P's NPA 60 reckonable service to which a Case applies must be taken to be a reference to—

(i) P's NPA 60 reckonable service up to and including the date of change multiplied by the fraction specified in the notice of the election in accordance with regulation 57(12)(a), less

(ii) the amount of P's NPA 60 reckonable service calculated in accordance with paragraph (7)(a) of this regulation;

(b) a reference to P's NPA 65 reckonable service must be taken to be a reference to—

(i) P's NPA 65 reckonable service up to and including the date of change multiplied by the fraction specified in the notice in accordance with regulation 57(12)(b), less

(ii) the amount of P's NPA 65 reckonable service calculated in accordance with paragraph (7)(b) of this regulation.

(9) In this regulation—

“contributable salary” is to be construed in accordance with regulation 57 (election to receive phased retirement benefits);

“date of change” in relation to an election under regulation 57 means—

(a)

where a person satisfies Condition 1 of that regulation, the day before the date on which the reduction in contributable salary takes effect, or

(b)

where a person satisfies Condition 2 of that regulation, the date on which the person ceases to be in the previous employment;

“reckonable service” excludes any increase in reckonable service under regulation E8(2) to (6) of TPR 1997 referred to in regulation 57(13)(c);

“relevant date” has the same meaning as in regulation 57(9).