The Teachers' Pensions Regulations 1997

PART II SPECIFIC PROVISIONS RELATING TO PART G

5.  In this Part—

(a) references to a numbered regulation prefixed by the word “old” are references to a regulation in Part G of the 1988 Regulations before the substitution effected by the Teachers' Superannuation (Amendment) Regulations 1997(1) (“the 1997 amendment regulations”) and references to the old Part II of Schedule 13 are references to Part II of Schedule 13 to the 1988 Regulations before the substitution effected by the 1997 amendment regulations;

(b) references to a numbered regulation prefixed by the word “substituted” are references to a regulation in Part G of the 1988 Regulations as substituted by the 1997 amendment regulations.

6.  The revocation of the 1988 Regulations shall not affect the obligation of the Secretary of State—

(a) to prepare accounts under the provisions of old regulation G1 in the form set out in the old Part II of Schedule 13 for the financial years starting before 1st April 1996 (which obligations continue to have effect by virtue of substituted regulation G1(2));

(b) to prepare accounts under the provisions of substituted regulation G3(1) for the financial year ending with 31st March 1997; or

(c) to prepare shadow accounts in accordance with substituted regulation G3(2) for each financial year beginning in the period from 1st April 1991 to 1st April 1995;

7.  The revocation of the 1988 Regulations shall not affect—

(a) the obligation of the Government Actuary to make an actuarial inquiry in accordance with old regulation G4 at the end of the financial year ending with 31st March 1996 and to make an alternative actuarial inquiry in accordance with substituted regulation G7;

(b) the obligation of the Government Actuary to report on those inquiries to the Secretary of State; or

(c) the obligation of the Secretary of State to lay such reports before Parliament.

8.  The revocation of the 1988 Regulations shall not affect the obligation to credit to the shadow account as to 1st April 1991 the initial credit in accordance with substituted regulation G5(1) and the amount referred to in regulation G5(2).

9.—(1) In this paragraph—

(a) references to the 1996 report are references to the report on the actuarial inquiry under old regulation G4 at the end of the financial year ending with 31st March 1996; and

(b) “relevant period” has the same meaning as in old regulation G4.

(2) For the purposes of regulation G5—

(a) the required percentage for any period before the beginning of the relevant period starting on 1st April next following the 1996 report shall be 7.2%; and

(b) the required percentage for the relevant period starting on 1st April next following the 1996 report shall be determined in accordance with substituted regulation G7(10).

(1)

S.I. 1997/312.