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Changes over time for: Section 198
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Point in time view as at 01/08/2021.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 198.
Changes to Legislation
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Interpretation of PartE+W
This section has no associated Explanatory Memorandum
198. In this Part—
“cash equivalent” means an amount calculated in accordance with regulations made under section 97 of PSA 1993;
“club transfer statement of entitlement,” in relation to a member's accrued earned pension under this scheme, means a statement by the scheme manager of the club transfer value as at the guarantee date;
“club transfer value”, in relation to earned pension accrued under this scheme or under another club scheme, means an amount calculated—
(a)
in accordance with the club transfer arrangements; and
(b)
by reference to the guidance and tables provided by the Government Actuary for this purpose that are in use on the date used for the calculation;
“guarantee date” means—
(a)
for a transfer value, the date specified in the statement of entitlement as the date by reference to which the cash equivalent is calculated; and
(b)
for a club transfer value, the date specified in the club transfer statement of entitlement as the date by reference to which the club transfer value is calculated;
“guaranteed cash equivalent”, in relation to accrued rights to benefits under this scheme, means the cash equivalent of those accrued rights as at the guarantee date, as specified in a statement of entitlement;
“statement of entitlement”, in relation to a member's accrued rights to benefits under this scheme, means a statement by the scheme manager of the cash equivalent of those rights as at the guarantee date;
“transfer value”, in relation to accrued rights other than rights to earned pension accrued under this scheme or under another club scheme, means—
(a)
for accrued rights to benefits under this scheme, an amount equal to the guaranteed cash equivalent of those accrued rights; and
(b)
for accrued rights under another pension scheme, an amount—
(i)
determined by the scheme actuary of that scheme; and
(ii)
specified in a statement of accrued rights provided by the scheme manager of that scheme.
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