Paragraph 8

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 on his 60th birthday, except where paragraph 10 applies, the permitted amount is the greater of E and F, where—

E is 1/60th of the participator’s final remuneration for each of up to 40 years of reckonable service, and
F is the lesser of G and H.

(2)

In sub-paragraph (1)—

(a)

G is—

(i)

in relation to a participator who entered pensionable employment before 17th March 1987, the fraction of final remuneration ascertained by reference to the number of years of reckonable service at age 60, from the Table below:—

TABLE

Reckonable service at age 60	Fraction
not more than 5	1/60th for each year
6	8/60ths
7	16/60ths
8	24/60ths
9	32/60ths
10 or more	40/60ths

and

(ii)

in any other case, 1/30th of the participator’s final remuneration for each of up to 20 years of reckonable service, and

(b)

H is 2/3rds of the participator’s final remuneration less any retained benefits.