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The Teachers' Pension Scheme Regulations 2014

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No versions valid at: 01/04/2014

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Point in time view as at 01/04/2014. This version of this chapter contains provisions that are not valid for this point in time. Help about Status

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Yn ddilys o 01/04/2015

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 existing scheme rulesE+W

31.—(1) The existing scheme rules apply in relation to the calculation 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 TPR 2010.

(2) The existing scheme rules 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 TPR 2010.

(3) The existing scheme rules 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 TPR 2010 if the election is made before—

(a)the date P ceases to be in pensionable service under the existing scheme, if P is a full protection member; or

(b)the transition date.

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 [F1the existing scheme regulations] [F2and Schedule 7 to the Act].

(2) Where a salary restriction under regulation 39 of [F1the existing scheme regulations] applies in respect of the benefits payable to a transition member, no repayment of contributions is payable under regulation 26 of [F1the existing scheme regulations].

Textual Amendments

Annual rate of pensionE+W

33.  Save where provided otherwise in 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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