The Teachers' Superannuation (Additional Voluntary Contributions) (Scotland) Regulations 1995

13.—(1) The lump sum death benefit under regulation 13 must not be such as to cause the total of that lump sum and any death benefits totalling £2,500 or more that are payable under relevant schemes to exceed the permitted amount.

(2) Relevant schemes are—

(a) approved schemes;

(b) schemes approved under Chapter IV of Part XIV of the Taxes Act;

(c) free-standing additional voluntary contribution schemes;

(d) retirement annuity contracts approved under Chapter III of Part XIV of the Taxes Act; and

(e) the scheme constituted by the Superannuation Regulations.

(3) The permitted amount is £5,000 or, if greater, 4 times the participator’s remuneration.

(4) The participator’s remuneration is the greatest of

U, V and W,

where—

• U is what the participator’s final remuneration would have been if the date of death had been the material date,

• V is the participator’s highest year’s adjusted salary for the purpose of calculating U, and

• W is the participator’s total taxable earnings during any period of 12 months ending not more than 3 years before the date of death, increased as mentioned in paragraph 3(1).