Regulation 64 Interpretation: abatement of pensionF1

In this regulation and regulations 64A to 64D—

• “abatable pension” means the sum of a person's retirement pension—

  1. (a)

     disregarding the effect of any reduction under regulation 64D, and

  2. (b)

     excluding—

     1. (i)

        phased retirement pension,

     2. (ii)

        additional pension,

     3. (iii)

        a pension (or part of a pension) which is payable to the person (P) by reason of Case E applying to P's reckonable service, and

     4. (iv)

        retirement benefits defined in and payable under the Teachers' Pension Scheme Regulations 2014;

• “adjusted salary of reference” for a person (P) is—

  1. (a)

     if P's previous employment was full-time, the higher of—

     1. (i)

        the highest salary taken into account in determining P's average salary under regulation 37 or 38, multiplied by the adjustment factor, or

     2. (ii)

        (if applicable) the highest salary taken into account in determining P's average salary under regulation 37 or 38 relating to P's further employment, multiplied by the adjustment factor;

  2. (b)

     if P's previous employment was part-time, the higher of the full-time equivalent of—

     1. (i)

        the highest salary taken into account in determining P's average salary under regulation 37 or 38, multiplied by the adjustment factor, or

     2. (ii)

        (if applicable) the highest salary taken into account in determining P's average salary under regulation 37 or 38 relating to P's further employment, multiplied by the adjustment factor;

  3. (c)

     if P becomes entitled to a further retirement pension during a tax year, and the salary of reference for P's employment immediately prior to the further retirement ( “ the new higher salary of reference ”) is higher than that for the previous employment ( “the existing salary of reference”), the sum of—

     1. (i)

        the existing salary of reference divided by 365 multiplied by the number of days from the beginning of the tax year to the day before the further retirement, and

     2. (ii)

        the new higher salary of reference divided by 365 multiplied by the number of days from the date of entitlement to further retirement benefits to the end of the tax year;

• “adjustment factor” for a salary is the amount (if any) by which, immediately before the first day of the employment, that salary would have increased if it had been the annual rate of an official pension as defined in section 5(1) of PIA 1971, beginning and first qualifying for increases under that Act, on the same date as—

  1. (a)

     the last day of employment at that salary, in a case where the average salary was determined under regulation 37, or

  2. (b)

     the retirement pension, in a case where the average salary was determined under regulation 38;

• “initial adjusted salary of reference” is a person's adjusted salary of reference divided by 365 and multiplied by the number of days in the initial period;

• “initial period” is that part of a tax year running from a person's entitlement day in respect of retirement benefits and ending at the end of the tax year;

• “pension receipts” means the sum of a person's retirement pension—

  1. (a)

     including—

     1. (i)

        phased retirement pension,

     2. (ii)

        a pension (or part of a pension) which is payable to the person (P) by reason of Cases A, D or E applying to P's reckonable service, including mandatory compensation for premature retirement of F2the Teachers (Compensation for Redundancy and Premature Retirement) Regulations 2015, and compensation payable under F3regulation 18 (entitlement of credited teacher to compensation) of those Regulations.

     3. (iii)

        a pension specified in regulation 7(10),

     4. (iv)

        retirement benefits defined in and payable under the Teachers' Pension Scheme Regulations 2014, and

  2. (b)

     excluding additional pension, and

• “salary” means—

  1. (a)

     contributable salary;

  2. (b)

     pensionable earnings as defined in Chapter 4 of Part 3 of the Teachers' Pension Scheme Regulations 2014.