The Teachers' Pension Scheme Regulations 2014 No. 512

PART 8 E+W Payment of benefits

CHAPTER 3 E+W Payment of lump sums

Amount of lump sum payable under regulation 171 instead of a pension credit retirement pension E+W

173.—(1) This regulation applies to a member (P) who applies under regulation 171 to receive a lump sum instead of a pension credit retirement pension.

(2) The amount of the lump sum payable to P is an amount equal to 5 times the annual rate of the pension credit retirement pension.