PART 7Benefits for teachers

CHAPTER 7Other benefits

Short-service annuity77

1

This regulation applies where the contributions of a person who has not been in pensionable employment at any time after 5th April 1980 cannot be repaid under regulation 22(2) because the salary on which contributions were payable exceeded £5,000.

2

A short-service annuity is payable to the person for life from the date of the person’s 60th birthday.

3

The annual rate of the annuity is the actuarial equivalent of the person’s contributions (calculated in accordance with regulation 23) as at the date of the person’s 60th birthday.