The Teachers’ Pensions Regulations 2010

23.—(1) This paragraph applies where—

(a) the person paying the contributions dies, or becomes entitled to payment of retirement benefits, after reaching the normal pension age, or

(b) paragraph 22 does not apply only because the Secretary of State was not satisfied that the declaration under paragraph 11(b) or any declaration under paragraph 20(2)(b) was made in good faith

and paragraph 25 does not apply.

(2) Where this paragraph applies—

(a) contributions are to be treated as having been paid in respect of the whole of the period in respect of which the election was made, but

(b) except where sub-paragraph (3) applies, there is to be deducted from the appropriate terminal sum an amount of (A x B/100) x C

where—

• A is the annual rate at which the person’s contributable salary was last payable,

• B is the rate at which the contributions were last payable, and

• C is the multiplier determined from time to time by the Secretary of State after taking advice from the scheme actuary.

(3) Where the Secretary of State is satisfied that the declaration under paragraph 11(b) was made in good faith but is not satisfied that a declaration under paragraph 20(2)(b) was made in good faith there is to be deducted from the appropriate terminal sum an amount determined by the Secretary of State after taking advice from the scheme actuary.