The Teachers’ Pension Scheme (Scotland) Regulations 2014

Making a buy-out election
This section has no associated Policy Notes

32.—(1) A buy-out election made by a member (P) must state the number of years in respect of which the standard reduction is to be bought out.

(2) A buy-out election must be made by written notice to the scheme manager.

(3) The notice of election must specify—

(a)if P is in more than one eligible employment, the name of the employer who is to deduct the contributions;

(b)P’s name;

(c)P’s date of birth;

(d)P’s normal pension age;

(e)the date on which P entered pensionable service;

(f)P’s annual rate of pensionable earnings.

(4) The scheme manager may ask P to provide further information.