Regulation E6 Amount of retirement pension

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

Regs mod. by Teachers' Superannuation 1997 regs.2,41
reg.E6(1) amended by Teachers' Superannuation 1997 regs.2,12(a)
reg.E6(4)-(6) added by Teachers' Superannuation 1997 regs.2,12(b)
reg E6 am (retrosp) (to 1.12.2000) by Teachers' Superannuation (Pension Sharing on Divorce) 2001 regs 2, 5, Sch 2, para 2
reg E6 am by Teachers' Superannuation 2002 regs 2, 5

(1)

Subject to paragraphs (2) and (3) and regulations E8 to E11, the annual rate of a teacher’s retirement pension shall be 1/80th of his pensionable salary multiplied by his effective reckonable service.

(2)

If–

(a)

the teacher is entitled to count a period as reckonable service by virtue of regulation D3 (past added years purchased by additional contributions); and

(b)

by reason of regulation E30(5) part of that period does not count in calculating his retirement lump sum,

the annual rate calculated in accordance with paragraph (1) is, in respect of each year comprised in that part, increased by 1/350th of his pensionable salary.

(3)

If a contributions equivalent premium has been paid in respect of the teacher and has not been refunded (and his entitlement to a guaranteed minimum pension is therefore extinguished), the annual rate of his retirement pension is reduced by the annual equivalent of the guaranteed minimum pension to which he would otherwise have been entitled.