The Teachers’ Pension Scheme (Scotland) Regulations 2014

CHAPTER 5 Additional pension account

Establishment of additional pension account

55.—(1) An additional pension account must be established for each active member (P) in respect of whom an additional pension election is made.

(2) If P is an active member in relation to more than one employment, only one additional pension account is to be opened.

(3) The additional pension account must remain open until—

(a) an additional pension is paid in respect of P;

(b) a transfer value payment is made or a cash transfer sum is paid in respect of P’s rights to the accrued additional pension; or

(c) all additional pension contributions are refunded under Schedule 2.

(4) Part 2 of Schedule 2 has effect in relation to the making of an additional pension election.

Account to specify amount of additional pension

56.—(1) This regulation applies in relation to every financial year in which an additional pension election is made.

(2) The additional pension account must specify in relation to any additional pension election made in that financial year an amount equal to the annual rate of additional (self only) pension specified in the additional pension election.

Account to specify opening balance and PIA index adjustment

57.—(1) This regulation applies in relation to every financial year in which an additional pension account is open other than the financial year in which the account is established.

(2) The account must specify the opening balance of additional pension for the financial year and the PIA index adjustment for that opening balance.

(3) The opening balance of additional pension—

(a) for the financial year immediately following the financial year in which the additional pension account is established, means the amount of additional pension specified in the account as at the end of the previous financial year; and

(b) for any subsequent financial year, means the sum of the following amounts—

(i) the opening balance of additional pension for the previous financial year;

(ii) the PIA index adjustment (if any) for that opening balance; and

(iii) the amount of additional pension for the previous financial year.

Ill-health pension ceases to be payable

58.—(1) This regulation applies if—

(a) an additional pension is payable with an ill-health pension; and

(b) the ill-health pension ceases to be payable under regulation 111 or 115.

(2) The additional pension account must be re-established and credited with an amount equal to the annual rate of additional (self only) pension.

Phased retirement pension ceases to be payable

59.—(1) This regulation applies if—

(a) an additional pension is payable with a phased retirement pension; and

(b) the phased retirement pension ceases to be payable regulation 94.

(2) The additional pension account must be re-established and credited with an amount equal to the annual rate of additional (self only) pension.