Paragraph 4 Reduction of retirement pension
A retirement pension payable under these Regulations to a teacher, who became entitled to payment of retirement benefits before 1st April 1980 and who is modified by virtue of an election made in terms of paragraph 2(3), shall be reduced for each completed year, and proportionately for part of a year, of reckonable service after the date of modification by the sum specified in either column (2) or column (3), whichever is appropriate, of the Table in the Appendix to this Part which appears against his or her age at the date of modification specified in column (1).
In the case of a teacher who became entitled to payment of retirement benefits before 1st April 1980 and who is modified by virtue of an election made in terms of paragraph 2(3), the date of modification shall be, for the purposes of this paragraph, 1st July 1948 where notice has been given before the said date and the first day of the month following the date of the election in any other case.
In the case of a teacher–
who became entitled to retirement benefits before 1st April 1980; and
whose retirement pension is one to which he or she became entitled by virtue of regulation E6(1)(c),
any additional period of reckonable service taken into account under regulation E10(3) is deemed for the purposes of sub-paragraph (1) to be such service as is there mentioned.