The Teachers’ Pension Scheme Regulations 2014

CHAPTER 1 Making an additional pension election

Election to pay contributions for additional pension

6.—(1) This paragraph applies in relation to a member of this scheme (P) who—

(a) is in pensionable service under this scheme; and

(b) has not reached normal pension age under this scheme.

(2) P or, with P’s consent, P’s employer may elect to pay contributions for an additional pension in respect of P (“additional pension election”).

(3) An additional pension election—

(a) must state whether the election is for—

(i) an additional (self only) pension; or

(ii) an additional (self only) pension and an additional (surviving adult) pension; and

(b) must specify the annual rate of additional (self only) pension to be paid with P’s retirement pension.

Annual rate of additional (self only) pension

7.  The annual rate of additional (self only) pension specified in an additional pension election must be a multiple of—

(a) £250; or

(b) any other amount determined by the scheme manager.

Lump sum or monthly payments

8.—(1) An employer’s contributions for additional pension must be made by lump sum.

(2) A member’s additional pension contributions may be paid by lump sum or by monthly payments.

Making an additional pension election

9.—(1) An additional pension election by a member (P) must be made by written notice to the scheme manager stating whether additional pension contributions are to be paid—

(a) as a lump sum, or

(b) by monthly payments.

(2) If monthly payments are to be made, the notice must state the number of monthly payments, which—

(a) must not be more than 240; and

(b) must end before P reaches normal pension age under this scheme;

(3) If P is in pensionable service in relation to more than one employment, the notice must specify which employer is to deduct the contributions.

(4) The notice must be accompanied by a declaration by P that P is in normal health.

(5) The scheme manager may ask P or P’s employer to provide further information.

Accepting an additional pension election

10.—(1) The scheme manager may accept an additional pension election by giving written notice to—

(a) the member (P); and

(b) P’s employer.

(2) For the purpose of these Regulations, an additional pension election is accepted when P receives notice from the scheme manager.