Paragraph 11

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. para.8 amended by Teachers' Superannuation (Additional Voluntary Contributions) 2000 reg.7(1)
Sch. para.SA added by Teachers' Superannuation (Additional Voluntary Contributions) 2000 reg.7(2)
Sch. para. 3 words substituted by Teachers' Pensions 1997 reg. H11(11)
Sch. para. 4(1) words substituted by Teachers' Pensions 1997 reg. H11(11)
Sch. para. 5(2) words substituted by Teachers' Pensions 1997 reg. H11(12)
Sch. para. 11(1) words substituted by Teachers' Pensions 1997 reg. H11(13)
Sch. para. 12 words substituted by Teachers' Pensions 1997 reg. H11(14)

(1)

If the participator retires and is entitled to receive retirement benefits by virtue of regulation E4(7) of the 1988 Regulations, the permitted amount is—

(a)

where the participator first entered pensionable employment before 1st June 1989, the greater of S and

(\frac{N \times Q}{P}) and

(b)

in any other case, T, where—

N, P and Q have the same meaning as in paragraph 10,
S is 1/60th of the participator’s final remuneration for each year of his reckonable service up to a maximum of 40, and
T is the lesser of the amounts calculated in accordance with paragraph 8(2)(a)(ii) and (2)(b).