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Changes over time for: Paragraph 22
Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 01/04/2014.
Changes to legislation:
There are currently no known outstanding effects for the The Teachers' Pension Scheme Regulations 2014, Paragraph 22.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Faster accrual electionE+W
This
adran has no associated
Memorandwm Esboniadol
22.—(1) This paragraph applies to a person (P) who—
(a)is in pensionable service under this scheme in relation to an employment; and
(b)has not reached normal pension age under this scheme.
(2) P may elect, in relation to an employment, to pay contributions to accrue earned pension at a faster accrual rate in any financial year (“faster accrual election”).
(3) A faster accrual election must state the faster accrual rate which is to apply to P's pensionable earnings in that employment for that financial year.
(4) A faster accrual election must be made—
(a)if P was not in pensionable service in relation to that employment in that financial year, within one month after P enters pensionable service in relation to that employment; or
(b)otherwise, in the financial year before the financial year to which it relates.
(5) A faster accrual election has effect as follows—
(a)if sub-paragraph (4)(a) applies, from one month after the election is received by the scheme manager; or
(b)otherwise, from the start of the financial year to which it relates.
(6) A faster accrual election ceases to have effect at the end of the financial year to which it relates unless it is revoked before then.
Yn ôl i’r brig