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Changes over time for: Section 191
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Point in time view as at 01/08/2021.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, Section 191.
Changes to Legislation
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Calculation of balance of contributionsE+W
This section has no associated Explanatory Memorandum
191.—(1) The balance of contributions is (A-B)-C, where—
A is the total of the amounts specified in paragraph (2);
B is the total of the deductions specified in paragraph (3); and
C is the amount of tax chargeable on (A-B) under section 205 of FA 2004.
(2) The amounts are—
(a)all members' contributions, additional pension contributions, buy-out contributions and faster accrual contributions paid up to the date of receipt of the application for repayment, except any paid in respect of a period of pensionable service for which a short-service serious ill-health grant has been paid; and
(b)interest on those contributions from the first day of the financial year following that in which they were paid to the date of payment at 3% per year, compounded with yearly rests.
(3) The deductions are—
(a)the amount of any previous repayment under regulation 189; and
(b)if the scheme manager has paid a contributions equivalent premium, the amount recoverable by the scheme manager under sections 61 to 63 of PSA 1993.
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