Teachers' Superannuation Regulations (Northern Ireland) 1998

Receipts, etc., to be credited

G2.—(1) Employees' and employers' contributions received during the financial year shall be credited to the account.

(2) Employees' contributions comprise—

(a) all contributions payable under regulations C2(1), C3, C4, C5 and C8;

(b) so much of any additional contributions payable under regulations C6 and C7 as would have been payable under regulation C2(1) if pensionable employment had continued; and

(c) all amounts payable under regulations C13 and C14 (return of repaid contributions).

(3) Employers' contributions comprise—

(a) the contributions payable under regulation G5; and

(b) so much of any additional contributions payable under regulation C6 as would have been payable under regulation G5 if pensionable employment had continued.

(4) There shall also be credited to the account—

(a) the closing balance in the account for the preceding financial year;

(b) all transfer values under regulation F4 received during the financial year;

(c) all contributions equivalent premiums refunded, or recovered under sections 57 to 59 of the Pensions Act, during the financial year;

(d) any interest and other payments under these Regulations received during the financial year; and

(e) the notional interest for the financial year described in Part III of Schedule 12.