http://www.legislation.gov.uk/uksi/2014/2652/regulation/4/madeThe Teachers’ Pension Scheme (Amendment) Regulations 2014enKing's Printer of Acts of Parliament2016-07-22PUBLIC SERVICE PENSIONS, ENGLAND AND WALESEDUCATION, ENGLAND AND WALESThese Regulations, which come into force on 1st April 2015, amend the Teachers’ Pensions Regulations 2014 to—provide for the delegation of the scheme manager’s functions (regulation 5);make further provision for the calculation of an individual’s annual rate of pensionable earnings for multiple employments at least one of which is irregular (regulation 9);provide for new members’ contributions rates, with bands based on actual annual salary rather than the full-time equivalent for part-time eligible employment (regulation 16);provide for new employers’ contribution rates and an administration charge (regulations 17 and 18);make further transitional provision for the calculation of certain benefits (regulations 40 to 47) and commutation of small pensions (regulation 51);introduce a new Schedule 4 including provisions for scheme valuations and the employer cost cap, including the procedure to be followed in the event of a breach of the parameters for the cost cap cost of the scheme (regulation 52), andcorrect a number of minor errors in those Regulations.An impact assessment has not been produced for this instrument as it has no impact on businesses or civil society organisations. The instrument has a minimal impact on the public sector.Amendment to regulation 3 (Interpretation)4.

In regulation 3—

(a)

omit the definition of “appropriate factor”;

(b)

omit the definition of “existing club transfer arrangements”;

(c)

after the definition of “the existing scheme” insert—

“the existing scheme regulations” means the Teachers’ Pension Regulations 2010

S.I. 2010/990.

;

;

(d)

after the definition of “financial year” insert—

“full protection member” has the meaning given in Part 2 of Schedule 3;

;

(e)

in the definition of “sending scheme”, for “which pays” substitute “to which an application is made for payment of”; and

(f)

after the definition of “survivor’s pension” insert—

“tapered protection member” has the meaning given in Part 3 of Schedule 3;”

.

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<dc:description>These Regulations, which come into force on 1st April 2015, amend the Teachers’ Pensions Regulations 2014 to—provide for the delegation of the scheme manager’s functions (regulation 5);make further provision for the calculation of an individual’s annual rate of pensionable earnings for multiple employments at least one of which is irregular (regulation 9);provide for new members’ contributions rates, with bands based on actual annual salary rather than the full-time equivalent for part-time eligible employment (regulation 16);provide for new employers’ contribution rates and an administration charge (regulations 17 and 18);make further transitional provision for the calculation of certain benefits (regulations 40 to 47) and commutation of small pensions (regulation 51);introduce a new Schedule 4 including provisions for scheme valuations and the employer cost cap, including the procedure to be followed in the event of a breach of the parameters for the cost cap cost of the scheme (regulation 52), andcorrect a number of minor errors in those Regulations.An impact assessment has not been produced for this instrument as it has no impact on businesses or civil society organisations. The instrument has a minimal impact on the public sector.</dc:description>
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