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The Teachers' Pension Scheme Regulations 2014

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CHAPTER 1E+WGeneral

Reaching normal pension ageE+W

30.—(1) If a transition member (P) who applies for payment of retirement benefits under both schemes has reached normal pension age under the existing scheme but has not reached normal pension age under this scheme, the benefits payable under this scheme are to be actuarially reduced.

(2) If P has reached normal pension age neither under the existing scheme nor under this scheme, the benefits payable under both schemes are to be actuarially reduced.

(3) If P has reached normal pension age—

(a)under the existing scheme only, the benefits payable under that scheme are to be actuarially enhanced under the existing scheme rules (if applicable); or

(b)under both schemes, the benefits payable under both schemes are to be actuarially enhanced (if applicable).

Application of [F1existing scheme regulations] E+W

31.—(1) The [F1existing scheme regulations] apply in relation to the calculation [F2and payment] of benefits payable in respect of pensionable service under the existing scheme, save that an application for payment of benefits must be made under regulation 162 of these Regulations and not under [F3the existing scheme regulations].

(2) The [F1existing scheme regulations] apply in relation to the payment of additional pension with a retirement pension under the existing scheme, save that an application for payment of benefits must be made under regulation 162 of these Regulations and not under [F4the existing scheme regulations].

(3) The [F1existing scheme regulations] apply in relation to an election made by a person (P) for contributions to be paid monthly under paragraph 2(1) (election to pay contributions for additional pension) of Schedule 4 to [F5the existing scheme regulations] if the election is made [F6before the transition date].

[F7(4) For the purpose of determining P’s entitlement to retirement benefits, P’s pensionable employment under the existing scheme terminates when P’s pensionable service under this scheme terminates.]

Determination of final salaryE+W

32.—(1) For the purpose of calculating benefits payable under the existing scheme to or in respect of a transition member with continuity of service, the member's final salary is determined by reference to Part 5 of [F8the existing scheme regulations] [F9and Schedule 7 to the Act].

(2) Where a salary restriction under regulation 39 of [F8the existing scheme regulations] applies in respect of the benefits payable to a transition member, no repayment of contributions is payable under regulation 26 of [F8the existing scheme regulations].

Textual Amendments

Annual rate of pensionE+W

33.  Save where provided otherwise in [F10paragraph 38 (application for payment of ill-health pension) and] paragraph 46 (application for supplementary death grant), the annual rate of pension payable to a transition member is found by adding—

(a)the annual rate of pension payable under the existing scheme; and

(b)the annual rate of pension payable under this scheme.

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