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

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Point in time view as at 20/12/2023.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. Help about Changes to Legislation

CHAPTER 2E+WPension credit retirement pension

Entitlement day for pension credit retirement pensionE+W

154.—(1) The entitlement day for a [F1person’s (P’s)] pension credit retirement pension is—

(a)the day on which [F2P] 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.

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?