Search Legislation

The Teachers’ Pension Scheme (Remediable Service) Regulations 2023

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Interpretation of Part 5

This section has no associated Explanatory Memorandum

27.  In this Part—

additional pension” means rights to benefits secured by virtue of an election under—

(a)

in relation to the legacy scheme, paragraph 2 of Schedule 4 to the 2010 Regulations;

(b)

in relation to the reformed scheme, paragraph 6 of Schedule 2 to the 2014 Regulations;

alternative reformed scheme additional pension value” means the value of additional pension determined pursuant to regulation 28(1)(a)(i);

bought out standard reduction” means rights to benefits secured by virtue of an election under paragraph 29 of Schedule 2 to the 2014 Regulations;

compensatable amount” means, where an amount by way of compensation relates to remediable voluntary contributions paid to secure—

(a)

additional pension under the legacy scheme, the amount determined pursuant to regulation 28(1)(a)(ii);

(b)

reformed scheme flexibilities, the amount determined pursuant to regulation 28(1)(b)(ii);

faster accrual” means rights to benefits secured by virtue of an election under paragraph 22 of Schedule 2 to the 2014 Regulations;

reformed scheme flexibility” means additional pension, bought out standard reduction or faster accrual secured under the reformed scheme;

relevant pension year” has the meaning given in direction 5(16)(c)(i) of the PSP Directions 2022;

remediable voluntary contribution” means a voluntary contribution(1) paid pursuant to an arrangement which commenced during the period of a remedy member’s remediable teacher service;

rights to alternative legacy scheme additional pension” means the rights to additional pension determined pursuant to regulation 28(1)(b)(i);

RVC election” has the meaning given in regulation 29(4)(c);

voluntary contribution” means a contribution paid by a remedy member to secure—

(a)

additional pension under the legacy scheme, or

(b)

a reformed scheme flexibility.

(1)

See section 110(1) of PSPJOA 2022 for the meaning of “voluntary contributions”.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources