# The Teachers' Pensions Regulations 1997, Regulation E5: Amount of retirement pension


(1) Subject to paragraphs (2) to (6) and regulations E7 to E10, the annual rate of a person’s retirement pension is 1/80th of his average salary multiplied by his effective reckonable service.
(2) If—
(a) the person is entitled to count a period as reckonable service by virtue of regulation D3 (past period for which additional contributions have been paid), and
(b) by reason of regulation E32(3) part of that period does not count in calculating his retirement lump sum,
the annual rate calculated in accordance with paragraph (1) is, in respect of each year comprised in that part, increased by 1/350th of his average salary.
(3) Subject to paragraphs (4) to (6), where a person who has become entitled to payment of retirement benefits by virtue of regulation E4(5) has ceased to be in pensionable employment or excluded employment on or after 1st September 1997, the annual rate of the person’s retirement pension shall be the annual rate of such pension calculated in accordance with paragraphs (1) and (2) and, where appropriate, regulations E7 or E9 but disregarding the effect of regulation E10, multiplied by the appropriate factor.
(4) Paragraph (3) does not apply where notice to terminate the person’s employment was given or his resignation tendered on or before 22nd October 1996.
(5) If—
(a) the person has a guaranteed minimum in relation to employment up to 6th April 1997, and
(b) A exceeds B, where—
A is the annual equivalent of his guaranteed minimum pension together with that of any equivalent pension benefits, and
B is the annual rate calculated in accordance with paragraphs (1) and (2) and, where applicable, paragraph (3),
the annual rate of his retirement pension is A.
(6) If a contributions equivalent premium has been paid in respect of the person and has not been refunded (and his entitlement to a guaranteed minimum pension is therefore extinguished) the annual rate of his retirement pension is reduced by the annual equivalent of the guaranteed minimum pension to which he would otherwise have been entitled.

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Source: https://www.legislation.gov.uk/uksi/1997/3001/regulation/E5 (the official version)
Page: https://openlegislation.uk/teachers-pensions-regulations-1997/regulation-E5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.