The gross pension amount used in the calculation is the amount of pension before reduction to pay for any optional bigger lump sum on retirement.
If your last day of pensionable employment was on or before 31 March 2008, previous abatement provisions apply up to your Normal Pension Age (NPA).
The reduction can be up to the total of the annual pension and continue until you reach your NPA or the earnings from your re-employment reduce sufficiently.
Pre-retirement figure with protection of pay
1995 Section
When calculating your pre-retirement figure, we’ll calculate the best of the last 3 years actual pay for each period of membership.
This is 3 years before your protection date and 3 years before your retirement. Whichever is the highest of these will be your pre-retirement figure.
This does not apply if you’re a Special Class (SC) or Mental Health Officer (MHO) member.
2008 Section
When calculating your pre-retirement figure, we’ll calculate the best actual reckonable pay for each period of membership. This is the average of the best consecutive 3 years actual pensionable pay, out of the final 10 years to your protection date and retirement.
We’ll add cost of living increases from the day after the last day of the pay period, up to the current date so the figures are in line with cost of living.
For both Sections, whichever of these two figures is highest will be considered as your pre-retirement figure.