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Changes over time for: CHAPTER 2
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Point in time view as at 20/12/2023.
Changes to legislation:
There are currently no known outstanding effects for the The Teachers' Pension Scheme Regulations 2014, CHAPTER 2.
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 2E+WPension credit retirement pension
Entitlement day for pension credit retirement pensionE+W
154.—(1) The entitlement day for a [person’s (P’s)] pension credit retirement pension is—
(a)the day on which [P] reaches normal pension age; or
(b)if P has reached normal minimum pension age but has not reached normal pension age, a day specified in P's application under regulation 162 for payment of the pension which is at least 6 weeks after the day on which the application is made.
(2) The entitlement day must not be before the day on which a pension-sharing order takes effect.
Entitlement to pension credit retirement pensionE+W
155.—(1) A pension credit member (P) is entitled to payment of a pension credit retirement pension from the entitlement day if P has applied under regulation 162 for payment of the pension.
(2) If P is entitled to 2 or more pension credits—
(a)benefits are payable to P under this scheme as if P were 2 or more members, each being entitled to one of the pension credits; and
(b)the amounts payable are determined accordingly.
(3) A pension credit retirement pension is payable for life.
Annual rate of pension credit retirement pensionE+W
156. The annual rate of a pension credit retirement pension is found by—
(a)taking the amount of credited pension specified in the pension credit member's account;
(b)applying the actuarial adjustment (if any) specified in the account in relation to that amount; and
(c)subtracting the conversion amount (if any) specified in that account in relation to that amount.
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