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53 provisions
Title and introductory text
2014 No. 2652
Public Service Pensions, England And Wales
Education, England And Wales
The Teachers’ Pension Scheme (Amendment) Regulations 2014
Made
29th September 2014
Laid before Parliament
3rd October 2014
Coming into force
1st April 2015
The Secretary of State makes these Regulations in exercise of the powers conferred by sections1(1), (2)(d), (3) and (4), 2, 3(1), (2), (3)(a) and (c) and (4), 4(1) and (3), 5(1), 7(1), 8(1)(a) and (2)(a), 11(1)(a) and (2), 12(1), (2), (3), (6) and (7), 18(1), (2), (4)(b) and (5) to (9) and paragraph (c) of the definition of “employer” in section 37, and paragraph 4 of Schedule 1, paragraph4(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.
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.
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;
;
(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;”
.
After regulation 7 insert—
(3) The responsible authority may delegate any functions of the scheme manager under these Regulations, including this power to delegate.
.
7 Amendment to regulation 19 (Eligibility for active membership)
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.
.
9 Amendment to regulation 41 (Multiple employments including at least one irregular employment)
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.
13 Amendment to regulation 154 (Entitlement day for pension credit retirement pension)
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”.
14 Amendment to regulation 174 (Commutation: small pensions)
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.
.
16 Substitution of regulation 185 (Members’ contributions)
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.
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%
≥ £75,000 | 11.7%
17 Substitution of regulation 192 (Employers’ contributions)
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.
.
18 Amendment to regulation 196 (Payment by employers to scheme manager)
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.
25 Amendment to regulation 219 (Employment records)
In paragraph (2)(b) of regulation 219 after “pensionable earnings” insert “including any money value of residential benefits in kind forming part of P’s pensionable earnings under regulation 38 (Money value of residential benefits in kind to form part of pensionable earnings)”.
28 Insertion of regulation 225 (Scheme valuation and employer cost cap)
After regulation 224 (transitional provisions) insert—
Scheme valuation and employer cost cap
225. Schedule 4 (scheme valuation and employer cost cap) has effect.
.
In Schedule 1—
(a) in paragraph 1, after “Academy”, insert ““, Academy school”, “16 to 19 Academy” and “alternative provision Academy””;
(b) in paragraph 5, for “sub-paragraph (1)” in sub-paragraph (5) substitute “sub-paragraph (4)”;
(c) in paragraph 10(a), after “Academy”, insert “school, alternative provision Academy,”;
(d) in paragraph 25(a), before “the Public Service” insert “the scheme constituted in” and after “Pensions Regulations 2014” insert “or one of its connected schemes”; and
(e) after paragraph 34, insert—
35. Teacher employed in the Lycée Français Charles de Gaulle de Londres.
.
After paragraph 29(1) of Schedule 2 insert—
insofar as this relates to P’s—
(a) standard earned pension; and
(b) faster accrual earned pension (if any)
.
32 Amendment to paragraph 1 (Interpretation) of Schedule 3 (Transitional provisions)
In paragraph 1 of Schedule 3—
(a) omit the definition of “existing scheme rules”; and
(b) in the definition of “transition date”, in both sub-paragraphs (a) and (b), for “an existing scheme” substitute “the existing scheme”.
36 Amendment to paragraph 22 of Schedule 3 (Fair Deal members)
In paragraph 22 of Schedule 3—
(a) in sub-paragraph (1), where it first appears, omit “sub-”; and
(b) in sub-paragraph (3)(b) for the words after “P would reach normal pension age under” substitute “the existing scheme on or after 1st October 2025.”.
37 Amendment to paragraph 31 of Schedule 3 (Application of existing scheme rules)
In paragraph 31 of Schedule 3—
(a) for all instances of “existing scheme rules”, including the heading, substitute “existing scheme regulations”; and
(b) in sub-paragraph (3), for “TPR 2010” substitute “the existing scheme regulations”.
38 Amendment to paragraph 32 of Schedule 3 (Determination of final salary)
In paragraph 32 of Schedule 3—
(a) in sub-paragraph (1) after “TPR 2010” insert “and Schedule 7 to the Act”; and
(b) for “TPR 2010”, where it occurs, substitute “the existing scheme regulations”.