Regulation E6 Amount of retirement lump sumI1

Northern Ireland Not yet in force

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

reg. E6 coming into force by Teachers' Superannuation 1998 reg. A1
reg. E11(2(b) words inserted by Teachers' Superannuation 2005 reg. 19(3)
reg. E20(7(a) substituted by Teachers' Superannuation 2005 reg. 22(7)
reg. E20(7(c) words substituted by Teachers' Superannuation 2005 reg. 22(8)
reg. E4A E5 E5A E6 E6A E6B substituted for reg. E5 E6 by Teachers’ Pensions etc. (Reform Amendments) 2007 Sch. 3 para. 23
reg. E6(2) text amended by Teachers’ Pensions 2010 reg. 6(a)
reg. E6(9)-(11) added by Teachers’ Pensions 2010 reg. 6(b)

(1)

Subject to paragraph (2) and regulations E7 and E8, the amount of a person’s retirement lump sum is

A \times (B + C)

where—

A is 3/80ths of his average salary;
B is his effective reckonable service (except any falling within C); and
C is any period which he is entitled to count as reckonable service by virtue of regulation D3.

(2)

If the person’s effective reckonable service is restricted by regulation E32(2), the part of his retirement lump sum that is attributable to service before he attained the age of 60 shall not exceed his average salary multiplied by 1½.

Annotations

Commencement

I1: Reg. E6 in operation at 2.11.1998, see reg. A1