The Teachers' Pension Scheme Regulations 2014

Meaning of “actuarial adjustment”E+W
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[F174.—(1) In these Regulations, “actuarial adjustment” means the actuarial adjustment that is applied when calculating the annual rate of pension payable to—

(a)a member who, on the entitlement day for a pension other than an age retirement pension or an ill-health pension, has not reached normal pension age; or

(b)an active member or a deferred member who becomes a pensioner member after reaching normal pension age.

(2) In the case of an actuarial adjustment applied under paragraph (1)(b)—

(a)the actuarial adjustment only relates to a period of pensionable service of the active member or the deferred member after reaching normal pension age; and

(b)the actuarial adjustment must only be applied to the accrued earned pension of the active member or the deferred member that accrued before reaching normal pension age.]

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