Regulation 94 Cessation of phased retirement pensionI1

Scotland

(1)

A phased retirement pension ceases to be payable to a member (P) if—

(a)

in the 12 months after the entitlement day, the annual rate of P’s pensionable earnings increases; and

(b)

as a result, the increased annual rate is more than 80% of the average annual rate of P’s pensionable earnings in—

(i)

if P met the reduced annual rate condition, the 6 months of pensionable service immediately before the reduced annual rate took effect; or

(ii)

if P met the new employment condition, the last 6 months of the previous employment.

(2)

In this regulation, “increased annual rate” means the annual rate of P’s pensionable earnings in the 12 months after the entitlement day.

Annotations