(This note is not part of the Regulations)
These Regulations, which come into force on 1st April 2014, amend the Teachers’ Pensions Regulations 2010.
Regulations 3 to 7 give effect to the new Fair Deal, found in “Fair Deal for staff pensions: staff transfer from central government” issued by HMT in October 2013 (https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/246933/PU1571_Fair_Deal_for_staf_pensions.pdf). The regulations extend access to the teachers’ pension scheme for teachers, on the same terms as other members, who have moved from the public sector to an independent contractor by way of a compulsory transfer.
Regulations 3 and 4 provide that staff eligible to be in pensionable employment, but who are not in pensionable employment, will be treated as being in pensionable employment on the fair deal transfer date.
Regulations 5 and 6 define the concepts of “accepted member”, “existing Fair Deal arrangement” (https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/81339/staff_transfers_145.pdf), “contracting scheme employer”, “fair deal transfer date”, “transferred services”, “accepted employer” and “Participation Agreement”. The obligations of an accepted employer and the circumstances that may result in a change in accepted employer status are also provided for.
Regulation 7 extends pensionable employment to those teachers who have been transferred to the private sector.
Regulation 8 provides new percentage rates for employees’ ordinary contributions which are to be calculated monthly, by reference to the full-time equivalent annual rate of each employee’s contributable salary for that month.
An impact assessment has not been produced for this instrument as it has no impact on businesses or civil society organisations. The instrument has a minimal impact on the public sector.