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.