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The Teachers' Pension Scheme Regulations 2014

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Meaning of “overall amount of extra pension”E+W

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3.—(1) The overall amount of extra pension is—

(a)£6,500 for any financial year ending before 1st April 2016; and

(b)for any financial year beginning on or after that date—

(i)an amount determined by the Treasury for that financial year; or

(ii)if the Treasury has not determined an amount for that financial year, the amount calculated under sub-paragraph (2).

(2) If the Treasury has not determined an amount under sub-paragraph (1)(b)(i) for any financial year, the overall amount for that financial year is the amount to which the annual rate of a pension of an amount equal to the overall amount for the previous financial year would have been increased under PIA 1971 [F1rounded to the nearest £100,] if—

(a)that pension were eligible to be so increased; and

(b)the beginning date for that pension were the first day of the previous financial year.

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