PART 7E+W+SBenefits for teachers

CHAPTER 4E+W+SPhased retirement and retirement benefits

Reduction of benefits: duplicate pensionsE+W+S

63.—(1) This regulation applies where a person's reckonable service is attributable to a period of employment which counts towards both—

(a)phased retirement benefits or retirement benefits under these Regulations, and

(b)a benefit (other than a benefit under these Regulations) payable directly or indirectly out of moneys provided by Parliament or from council tax levied by local authorities.

(2) But this regulation does not apply where the other benefit—

(a)is subject to reduction under regulation 142 of the Local Government Pension Scheme Regulations 1997 M1, or

(b)is payable under [F1regulation 9 of the Teachers (Compensation for Redundancy and Premature Retirement) Regulations 2015].

(3) Except as provided in paragraphs (4) and (5), the person's phased retirement benefits or retirement benefits must be reduced by so much as is necessary to secure that A is reduced by B.

(4) A must not be reduced to less than C.

(5) A phased retirement pension or retirement pension must not be reduced so that so much of it as is attributable to the double period is below the rate of any equivalent pension benefits attributable to that period.

(6) In the case of a pension, the reduction must be applied to the amounts in paragraph (5)(a) and (b) of regulation 61 (annual rate of phased retirement and retirement pension) before any multiplication under paragraphs (6), (7) or (8) of that regulation.

(7) In the case of a lump sum, the reduction must be applied to the amount in paragraph (4) of regulation 62 (amount of phased retirement and retirement lump sum) before any multiplication under paragraph (6) of that regulation.

(8) In this regulation—

Textual Amendments

Marginal Citations

M1S.I. 1997/1612 revoked but with savings by S.I. 2008/238.