TES Community hive mind: can anyone answer this query, please? I am aware that when taking full benefits on retirement at or after NPA your salary plus pension cannot exceed your revalued annual salary otheriwse your pension is affected. Is this true of Phased Retirement also? It looks to me as if it is possible that by taking maximum benefits (75%) at Phased Retirement, added to your new 20% reduced salary, you could earn more than you were when working full time and maybe more than your revalued average salary. Am i right in my thinking? Many thanks in advance.