PART 5Modification of short service benefit provisions
Short service benefit16
1
This regulation applies to a person (P) to whom—
a
regulation 74(a) of the Teachers’ Pension Scheme Regulations 2014 (meaning of “actuarial adjustment”) applies; and
b
regulation 73 of the Teachers’ Pension Scheme Regulations 2014 (meaning of “standard reduction”) does not apply.
2
For the purposes of the requirements in sections 71, 72, 74 and 75 of the 1993 Act20 and in any subordinate legislation made under Chapter 1 of Part 4 of that Act, as they apply in relation to P and the calculation of P’s benefits under the provisions of the Teachers’ Pension Scheme Regulations 2014 specified in paragraph (3), any difference is to be disregarded—
a
between P’s entitlement to benefits and any active member’s entitlement to benefits, or
b
between the computation of P’s benefits and any computation of benefits of an active member.
3
The provisions of the Teachers’ Pension Scheme Regulations 2014 referred to in paragraph (2) are—
a
regulation 96 (annual rate of phased retirement pension);
b
regulation 102 (annual rate of premature retirement pension);
c
regulation 105 (annual rate of early retirement pension);
d
paragraph (b)(iii) of regulation 186 (contributions under Schedule 2); and
e
Part 4 of Schedule 2 (election to buy out the standard reduction).