Search Legislation

The Teachers' Pension Scheme Regulations 2014

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Cross Heading: SECTION 2

 Help about opening options

Alternative versions:

Status:

Point in time view as at 05/04/2015.

Changes to legislation:

There are currently no known outstanding effects for the The Teachers' Pension Scheme Regulations 2014, Cross Heading: SECTION 2. Help about Changes to Legislation

SECTION 2E+WEstablishment of pensioner members' accounts

Pension accounts for active or deferred members who become pensioner membersE+W

76.—(1) When an active member becomes entitled to payment of a retirement pension other than a phased retirement pension in respect of any pensionable service—

(a)the active member's account and any additional pension account must be closed; and

(b)a pension account for the pensioner member must be established (“the pensioner member's account”).

(2) When a deferred member becomes entitled to payment of a retirement pension other than a phased retirement pension in respect of any pensionable service—

(a)the deferred member's account and any additional pension account must be closed; and

(b)a pension account for the pensioner member must be established (“the pensioner member's account”).

(3) The pensioner member's account must specify—

(a)the amount of full retirement earned pension payable to the member, and for that amount—

(i)the standard reduction (if any);

(ii)the actuarial adjustment (if any); and

(iii)the conversion amount (if any); and

(b)the amount of full retirement additional pension payable to the member, and for that amount—

(i)the actuarial adjustment (if any); and

(ii)the conversion amount (if any).

Pension accounts for phased retirement membersE+W

77.—(1) On the entitlement day for a phased retirement pension—

(a)a pensioner member's account must be established for the member;

(b)if the member is an active member, the active member's account must be adjusted by reducing the amount of accrued earned pension specified in that account by the phased retirement proportion;

(c)if the member is a deferred member, the deferred member's account must be adjusted by reducing the amount of accrued earned pension specified in that account by the phased retirement proportion;

(d)after the adjustment, Chapters 2 and 3 apply in relation to the member as if the amount of accrued earned pension specified in the active member's account or deferred member's account had always been reduced by the phased retirement proportion; and

(e)if the member has applied under regulation 94 to receive additional pension with the phased retirement earned pension, the additional pension account must be closed.

(2) The pensioner member's account must specify—

(a)the amount of phased retirement earned pension payable to the member, and for that amount—

(i)the standard reduction (if any);

(ii)the actuarial adjustment (if any); and

(iii)the conversion amount (if any); and

(b)the amount of phased retirement additional pension payable to the member, and for that amount—

(i)the actuarial adjustment (if any); and

(ii)the conversion amount (if any).

Back to top

Options/Help

You have chosen to open The Whole Instrument

The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Instrument as a PDF

The Whole Instrument you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open The Whole Instrument without Schedules

The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Instrument without Schedules as a PDF

The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Instrument

The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Instrument without Schedules

The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?