The Teachers’ Superannuation (Scotland) Amendment Regulations 2015

Amendment of regulation C3

4.  In regulation C3(1) (ordinary contributions)—

(a) in paragraph (1)—

(i) for “paragraph (3)”, substitute “paragraphs (2A) to (4)”; and

(ii) omit “in respect of the period between 1st April 2014 and 31st March 2015”;

(b) for the table in paragraph (2), substitute—

“Column 1 Annual salary for the pensionable employment for 2015-16	Column 2 Ordinary contribution rate
Up to and including £25,999	7.2%
£26,000 to £34,999	8.7%
£35,000 to £41,499	9.7%
£41,500 to £54,999	10.4%
£55,000 to £74,999	11.5%
£75,000 and above	11.9%”

(c) after paragraph (2), insert—

“(2A) The annual salary bands in Column 1 of the table in paragraph (2) are increased for each financial year following 2015-16, if there is a relevant increase in the consumer prices index for that financial year, by the appropriate percentage for the financial year, rounded up to the nearest £1.

(2B) There is a relevant increase in the consumer prices index for a financial year if the consumer prices index for the month of September before that financial year is higher than that for the previous September.

(2C) The appropriate percentage for the financial year is the same percentage as the percentage increase in the consumer prices index for that year.

(2D) In this regulation, “consumer prices index” means the all items consumer prices index published by the Statistics Board, a body corporate established by section 1 of the Statistics and Registration Service Act 2007(2).”.

(1)

Regulation C3 was substituted by S.S.I. 2007/189 and amended by S.S.I. 2013/71 and S.S.I. 2014/44.

(2)

2007 c.18.