The Teachers' Superannuation (Consolidation) Regulations 1988

12.—(1) Any person who was employed in non-participating employment and attains state pensionable age is to be paid by way of equivalent pension benefits a sum equal to the actuarial value of a retirement pension at the following rate for each year of reckonable service—

	Man	Women
during the period from 3rd April 1961 to 5th January 1964	£2.31	£1.92
during the period from 6th January 1964 to 5th April 1975	£3.48	£2.90

but excluding any period of such employment in respect of which—

(a) a payment in lieu of contributions has been made, or

(b) any retirement benefits are payable under regulation E4.

(2) If on attaining state pensionable age he is still in pensionable employment payment is to be deferred until he ceases to be in pensionable employment, or in employment which would be pensionable employment if he had not attained the age of 70.

(3) Regulation E31(2) (application for payment) applies in relation to a sum payable under this paragraph.