F1“average annual rate” means the average rate of pensionable earnings in a 12 month period;

“increased annual rate”, in relation to pensionable earnings, has the meaning given in regulation 97(2);

“new employment” has the meaning given in regulation 91(2);

“new employment condition” has the meaning given in regulation 91;

“pensionable earnings”, for a person not in an eligible employment, means the amount which would be the person's pensionable earnings if the employment were eligible employment;

“phased retirement application” means an application under regulation 162 for payment of a phased retirement pension;

“previous employment” has the meaning given in regulation 91(2);

“reduced annual rate”, in relation to pensionable earnings, means the annual rate of P's pensionable earnings following the reduction referred to in regulation 90;

“reduced annual rate condition” has the meaning given in regulation 90.