Janna has been in the Teachers' Pensions Scheme for 20 years and has a final salary of pound;30,000. So under the current rules, her pension would be pound;30,000 80 x 20 = pound;7,500 a year. Her lump sum would be Pounds 7,500 x 3 = pound;22,500. In a 60ths scheme, Janna's pension would be Pounds 30,000 60 x 20 = pound;10,000. She would only have to give up pound;1,875 of it to get the same lump sum as under the current scheme, pound;22,500, leaving her with a pension of pound;8,125 a year.