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

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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).

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