# The Teachers’ Superannuation (Amendment) Regulations 1997, Regulation 7: Actuarial reduction of pension on early retirement


In regulation E5 (amount of retirement pension)—
(a) in paragraph (1) for “(4)” there shall be substituted “(5)”;
(b) at the end of the definition of “B” in paragraph (3) there shall be added “and, where applicable, paragraph (5)”; and
(c) there shall be added at the end new paragraphs as follows—
“(5) Where this paragraph applies the annual rate of a person’s retirement pension shall be the annual rate calculated in accordance with the foregoing provisions of this regulation of the retirement pension to which he would be entitled apart from this paragraph and ignoring the effect of regulation E10 (national insurance modification of pensions) multiplied by the appropriate factor.
(6) (a) Subject to sub-paragraphs (b) and (c), paragraph (5) applies in Case F, as described in regulation E4(7), where a person has ceased to be in employment as there described on or after 1st September 1997.
(b) Paragraph (5) shall not apply where notice to terminate the person’s employment was given or his resignation was tendered on or before 22nd October 1996.
(c) Paragraph (5) shall not apply so as to reduce the annual equivalent of a person’s guaranteed minimum pension together with that of any equivalent pension benefits where that is the annual rate of his retirement pension in accordance with paragraph (3).
(7) For the avoidance of doubt, in regulations E7 to E9 references to “retirement benefits” and “retirement pension” are references to such benefits as calculated before any actuarial reduction required by paragraph (5).”.

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Source: https://www.legislation.gov.uk/uksi/1997/312/regulation/7 (the official version)
Page: https://openlegislation.uk/teachers-superannuation-amendment-regulations-1997/regulation-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.