PART GFINANCE

Payment by employers to Secretary of StateG6

1

The employer of a teacher in pensionable employment shall pay to the Secretary of State, within 15 days after the end of each month–

a

all amounts due from the teacher that are deductible from the teacher’s salary under regulation C14(1); and

b

the contributions payable under regulation G5,

  • in respect of the teacher’s contributable salary for that month.

2

For the purposes of paragraph (1)–

a

all salaries shall be treated as being payable monthly in arrears; and

b

any arrears payable by reason of a retrospective increase in contributable salary shall be treated as having become payable in the month in which they were paid.

3

If the full amount of any payment required by paragraph (1) is not received by the Secretary of State within 15 days after the end of the month, interest shall be payable by the employer on the amount outstanding at 12 per cent per annum, compounded with monthly rests, from the 16th day to the date of payment; but the Secretary of State may in any particular case waive the payment of interest.