The Teachers' Pension Scheme (Amendment) Regulations 2014

JurisdictionUK Non-devolved
CitationSI 2014/2652

2014No. 2652

PUBLIC SERVICE PENSIONS, ENGLAND AND WALES

EDUCATION, ENGLAND AND WALES

The Teachers' Pension Scheme (Amendment) Regulations 2014

29thSeptember2014

3rdOctober2014

1stApril2015

The Secretary of State makes these Regulations in exercise of the powers conferred by sections 1(1)( 1), (2)(d)( 2), (3) and (4), 2( 3), 3(1), (2), (3)(a) and (c) and (4), 4(1) and (3)( 4), 5(1)( 5), 7(1), 8(1)(a) and (2)(a)( 6), 11(1)(a) and (2), 12(1), (2), (3), (6) and (7)( 7), 18(1), (2), (4)(b) and (5) to (9)( 8) and paragraph (c) of the definition of "employer" in section 37, and paragraph 4 of Schedule 1, paragraph 4(a) of Schedule 2, Schedule 3, paragraph 18 of Schedule 5 and paragraphs 1(2)(ii), 2(2)(ii) and 5 of Schedule 7 to the Public Service Pensions Act 2013( 9).

In accordance with section 21 of that Act, the Secretary of State has consulted the representatives of such persons as appear to the Secretary of State likely to be affected by these Regulations.

In accordance with section 3(5) of that Act, these Regulations are made with the consent of the Treasury.

Citation and commencement

1. These Regulations may be cited as the Teachers' Pension Scheme (Amendment) Regulations 2014 and come into force on 1st April 2015.

Amendment of the Teachers' Pension Scheme Regulations 2014

2. The Teachers' Pension Scheme Regulations 2014( 10) are amended as follows.

Amendment to regulation 2 (Establishment of Teachers' Pension Scheme 2014)

3. In regulation 2, in the heading and in paragraph (3), for "2014" substitute "2015".

Amendment to regulation 3 (Interpretation)

4. In regulation 3-

(a) omit the definition of "appropriate factor";

(b) omit the definition of "existing club transfer arrangements";

(c) after the definition of "the existing scheme" insert-

""the existing scheme regulations" means the Teachers' Pension Regulations 2010( 11);";

(d) after the definition of "financial year" insert-

""full protection member" has the meaning given in Part 2 of Schedule 3;";

(e) in the definition of "sending scheme", for "which pays" substitute "to which an application is made for payment of"; and

(f) after the definition of "survivor's pension" insert-

""tapered protection member" has the meaning given in Part 3 of Schedule 3;"".

Amendment to regulation 7 (Scheme manager)

5. After regulation 7 insert-

"(3) The responsible authority may delegate any functions of the scheme manager under these Regulations, including this power to delegate.".

Amendment to regulation 9 (Membership of pension board)

6. In paragraph (b) of regulation 9(1), between "in" and "the" insert "which".

Amendment to regulation 19 (Eligibility for active membership)

7. In paragraph (2) of regulation 19, for "P is employed in an accepted school in which P has a financial interest" substitute-

"(a) P is employed in an accepted school in which P has a financial interest;

(b) P is a full protection member of the existing scheme;

(c) P is a tapered protection member of the existing scheme; or

(d) P satisfies the conditions in regulation 7(10) of the existing scheme regulations.".

Amendment to regulation 31 (Opting out of this scheme before automatic enrolment date)

8. In paragraph (4) of regulation 31, for "earlier" substitute "earliest".

Amendment to regulation 41 (Multiple employments including at least one irregular employment)

9. In regulation 41, for paragraph (2) substitute-

"(2) P's full-time equivalent annual rate of pensionable earnings is the higher of-

(a) Figure 1; and

(b) either--

(i) Figure 2, if P is in more than one regular employment; or

(ii) Figure 3, if P is only in one regular employment;

where-

Figure 1 is obtained by dividing the sum of the annual rates of each of P's employments by the total number of P's employments;

Figure 2 is the annual rate of pensionable earnings for P's regular employments as set out in paragraph (2) of regulation 40, disregarding P's irregular employment or employments; and

Figure 3 is the full-time equivalent rate of pensionable earnings for P's sole regular employment."

Amendment to regulation 117 (Annual rate of total incapacity pension)

10. In paragraph (3) of regulation 117, for "paragraph (b)" substitute "sub-paragraph (ii)".

Amendment to regulation 147 (Annual rate of additional (surviving adult) pension: short-term)

11. In regulation 147 omit-

(a) "or" in paragraph (2)(b)(ii); and

(b) paragraph (2)(c).

Amendment to regulation 150 (Annual rate of child pension: short term)

12. In paragraph (2)(a) and (b) of regulation 150 substitute for the definition of "EC"-

"EC is the number of D's eligible children;".

Amendment to regulation 154 (Entitlement day for pension credit retirement pension)

13. In regulation 154-

(a) in paragraph (1) between "a" and "pension" insert "person's (P's)"; and

(b) in sub-paragraph (1)(a) for "a person (P)" substitute "P".

Amendment to regulation 174 (Commutation: small pensions)

14. In regulation 174 for paragraph (5)(b) substitute-

"(b) the lump sum is a trivial commutation lump sum death benefit as defined in paragraph 20 of Schedule 29 to FA 2004.".

Amendment to regulation 182 (Reduction of benefits: annual allowance and lifetime allowance charge)

15. In paragraph (3) of regulation 182 for "238A" substitute "237B".

Substitution of regulation 185 (Members' contributions)

16. For regulation 185, substitute-

"185.

(1) For each eligible employment in respect of which an active member (P) is in pensionable service during a pay period, P must pay members' contributions on P's pensionable earnings in that pay period at the rate determined under this regulation ("members' contributions rate").

(2) The members' contributions rate for an eligible employment is the rate in Column 2 of the table corresponding to the band which includes the annual salary rate for that employment in Column 1.

(3) The annual salary rate bands in Column 1 are increased for each financial year, if there is a relevant increase in the consumer prices index for that financial year, by the appropriate percentage for the financial year, rounded up to the nearest £1.

(4) There is a relevant increase in the consumer prices index for a financial year if the consumer prices index for the month of September before that financial year is higher than that for the previous September.

(5) The appropriate percentage for the financial year is the same percentage as the percentage increase in the consumer prices index.

(6) In this regulation, "consumer prices index" means the all items consumer prices index published by the Statistics Board, a body corporate established by section 1 of the Statistics and Registration Service Act 2007( 12)."

Table

Column 1

Annual salary rate for the eligible employment

Column 2

Members' contributions rate

£0 - £25,999

7.4%

£26,000 - £34,999

8.6%

£35,000 - £41,499

9.6%

£41,500 - £54,999

10.2%

£55,000 - £74,999

11.3%

âëÑ£75,000

11.7%

Substitution of regulation 192 (Employers' contributions)

17. For regulation 192 substitute-

"192. In respect of each pay period, the employer of a person (P) in pensionable service in that pay period is to pay contributions on P's pensionable earnings in the pay period at the following percentage rate of those earnings-

(a) 14.1% from 1st April 2015 until 31st August 2015 inclusive;

(b) 16.4% from 1st September 2015;

(c) at the rate determined in each successive valuation report with effect from a date to be notified to employers by the scheme manager.".

Amendment to regulation 196 (Payment by employers to scheme manager)

18. In paragraph (2) of regulation 196, after sub-paragraph (b), insert-

"and

(c) an administration charge of such percentage of P's pensionable earnings for the pay period as is notified to employers from time to time by the scheme manager."

Amendment to regulation 200 (Application of this Section)

19. In paragraph (1)(c) of regulation 200 for "75" substitute "normal pension age".

Amendment to regulation 201 (Application for a statement of entitlement)

20. In regulation 201 omit-

(a) "(P)" in paragraph (1); and

(b) the entirety of paragraph (2).

Amendment to regulation 203 (Payment of a transfer value)

21. In paragraph (1) of regulation 203 for "may" substitute "must".

Amendment to regulation 205 (Acceptance of a transfer value)

22. In paragraph (1)(a) of regulation...

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