PART 5Retirement benefits for teachers
CHAPTER 3Phased retirement
Subsequent phased retirement applications95
1
P may make a subsequent phased retirement application if—
a
a phased retirement pension ceases to be payable under regulation 94 but P once more meets the reduced annual rate condition or the new employment condition; or
b
while P is receiving a phased retirement pension, the terms of P’s employment change or P enters a new employment and P once more meets the reduced annual rate condition or the new employment condition.
2
P may not make a subsequent phased retirement application if—
a
P has made 3 previous phased retirement applications; or
b
P has not reached 60 and has made 2 previous phased retirement applications.
3
If P makes a subsequent phased retirement application after a phased retirement pension ceases to be payable—
a
the phased retirement proportion specified in that application must be the same as or greater than the phased retirement proportion specified in the original application;
b
if P applied under regulation 91 to receive an additional pension as part of the original pension, P must apply under that regulation to receive an additional pension as part of the new phased retirement pension (“the new pension”); and
c
if P received a lump sum under regulation 162 in place of part of the original pension (“original lump sum”)—
i
P must apply under that regulation to receive a lump sum in place of part of the new pension (“new lump sum”);
ii
the amount of the new lump sum must be the same as or greater than the amount of the original lump sum; and
iii
the amount of lump sum payable is the amount of the new lump sum less the amount of the original lump sum.
4
Any subsequent phased retirement application must be made in accordance with regulation 91.
5
In this regulation—
“original application” means P’s application under regulation 159 for payment of the original pension;
“original pension” means a phased retirement pension that ceases to be payable under regulation 94;
“previous phased retirement application” includes the original application.