http://www.legislation.gov.uk/uksi/2014/512/schedule/2/part/3/chapter/3The Teachers' Pension Scheme Regulations 2014texttext/xmlenStatute Law DatabasePUBLIC SERVICE PENSIONS, ENGLAND AND WALESEDUCATION, ENGLAND AND WALES2024-05-16Expert Participation2024-04-06These Regulations establish a career average re-valued earnings scheme for the payment of pensions and other benefits to and in respect of teachers in England and Wales.SCHEDULE 2Scheme flexibilitiesPART 3Faster accrual electionCHAPTER 3Revocation and refund27Revoking a faster accrual election1

A member (P) may revoke a faster accrual election at any time before the end of the contributions payment period.

2

A revocation must be by written notice to the scheme manager.

3

A revocation has effect from the date it is received by the scheme manager (“date of revocation”).

4

P is taken to revoke a faster accrual election if P leaves pensionable service in the employment to which the election relates before the end of the contributions payment period.

5

If P revokes or is taken to revoke a faster accrual election and P is not entitled to be repaid the balance of contributions under regulation 189—

a

P's monthly payments cease to be payable on the date of revocation; and

b

P's active member's account (or if P has left all pensionable service, P's deferred member's account or pensioner member's account) must be credited with an amount determined by the scheme manager.

6

If P revokes or is taken to revoke a faster accrual election and P is entitled to be repaid the balance of contributions under regulation 189—

a

P's monthly payments cease to be payable on the date of revocation; and

b

P's rights under this scheme are extinguished.

28Member leaves all pensionable service before qualifying for retirement benefits1

This paragraph applies if a member (P) leaves all pensionable service under this scheme before P is qualified for retirement benefits in respect of that service.

2

On an application by P for a repayment of the balance of contributions, any monthly payments made by P before the last day of pensionable service must be refunded to P.

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<heading>Scheme flexibilities</heading>
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<strong>PART 3</strong>
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<p>A member (P) may revoke a faster accrual election at any time before the end of the contributions payment period.</p>
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<p>P is taken to revoke a faster accrual election if P leaves pensionable service in the employment to which the election relates before the end of the contributions payment period.</p>
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<p>If P revokes or is taken to revoke a faster accrual election and P is not entitled to be repaid the balance of contributions under regulation 189—</p>
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<p>If P revokes or is taken to revoke a faster accrual election and P is entitled to be repaid the balance of contributions under regulation 189—</p>
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<p>P's monthly payments cease to be payable on the date of revocation; and</p>
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<p>On an application by P for a repayment of the balance of contributions, any monthly payments made by P before the last day of pensionable service must be refunded to P.</p>
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