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The Teachers' Pension Scheme Regulations 2014

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There are currently no known outstanding effects for the The Teachers' Pension Scheme Regulations 2014, CHAPTER 1. Help about Changes to Legislation

CHAPTER 1E+WMaking an additional pension election

Election to pay contributions for additional pensionE+W

6.—(1) This paragraph applies in relation to a member of this scheme (P) who—

(a)is in pensionable service under this scheme; and

(b)has not reached normal pension age under this scheme.

(2) P or, with P's consent, P's employer may elect to pay contributions for an additional pension in respect of P (“additional pension election”).

(3) An additional pension election—

(a)must state whether the election is for—

(i)an additional (self only) pension; or

(ii)an additional (self only) pension and an additional (surviving adult) pension; and

(b)must specify the annual rate of additional (self only) pension to be paid with P's retirement pension.

Annual rate of additional (self only) pensionE+W

7.  The annual rate of additional (self only) pension specified in an additional pension election must be a multiple of—

(a)£250; or

(b)any other amount determined by the scheme manager.

Lump sum or monthly paymentsE+W

8.—(1) An employer's contributions for additional pension must be made by lump sum.

(2) A member's additional pension contributions may be paid by lump sum or by monthly payments.

Making an additional pension electionE+W

9.—(1) An additional pension election by a member (P) must be made by written notice to the scheme manager stating whether additional pension contributions are to be paid—

(a)as a lump sum, or

(b)by monthly payments.

(2) If monthly payments are to be made, the notice must state the number of monthly payments, which—

(a)must not be more than 240; and

(b)must end before P reaches normal pension age under this scheme;

(3) If P is in pensionable service in relation to more than one employment, the notice must specify which employer is to deduct the contributions.

(4) The notice must be accompanied by a declaration by P that P is in normal health.

(5) The scheme manager may ask P or P's employer to provide further information.

Accepting an additional pension electionE+W

10.—(1) The scheme manager may accept an additional pension election by giving written notice to—

(a)the member (P); and

(b)P's employer.

(2) For the purpose of these Regulations, an additional pension election is accepted when P receives notice from the scheme manager.

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