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Changes over time for: CHAPTER 8
Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 01/08/2021.
Changes to legislation:
There are currently no known outstanding effects for the The Teachers' Pension Scheme Regulations 2014, CHAPTER 8.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
CHAPTER 8E+WShort-service annuity for post-benefit service
Meaning of “entitlement day” (short-service annuity)E+W
123. The entitlement day for a short-service annuity is the date specified in an application under regulation 162 for payment of the annuity, which must be no earlier than 6 weeks after the day on which the application is made.
Entitlement to short-service annuityE+W
124.—(1) A person (P) is entitled to payment from the entitlement day of a short-service annuity in respect of post-benefit service if—
(a)P enters a period of post-benefit service;
(b)P is not re-qualified for retirement benefits in respect of that service;
(c)P leaves all eligible employment; and
(d)P has applied under regulation 162 for payment of the annuity.
(2) A short-service annuity is payable for life.
Annual rate of short-service annuityE+W
125. The annual rate of a short-service annuity is the actuarial equivalent of the sum of—
(a)all of the members' contributions, faster accrual contributions (if any) and additional pension contributions (if any) in respect of a period of post-benefit service paid up to the date of receipt of the application under regulation 162; and
(b)interest to the date of payment at 3% per year, compounded with yearly rests on those contributions from the first day of the financial year following that in which they were paid.
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