The Teachers' Pensions (Amendment) Regulations 1999

Modification of provisions relating to actuarial inquiry as at 31st March 1996

9.—(1) In this regulation–

“old regulation G4” means regulation G4 of the Teachers' Superannuation (Consolidation) Regulations 1988(1) before the substitution effected by Schedule 1 to the Teachers' Superannuation (Amendment) Regulations 1997(2);

“substituted regulation G7” means regulation G7 of the Teachers' Superannuation (Consolidation) Regulations 1988 after the substitution effected by Schedule 1 to the Teachers' Superannuation (Amendment) Regulations 1997; and

“the 1996 report” means the report on the actuarial inquiry (including the alternative actuarial inquiry referred to in substituted regulation G7) in relation to the Teachers' Pension Account as at the end of the financial year ending with 31st March 1996.

(2) In its application (by virtue of paragraph 7 of Schedule 15 to the principal regulations) to the 1996 report old regulation G4 shall have effect as if for paragraph (3) there were substituted the following paragraph–

“(3) The report is to specify the percentage of the contributable salaries of persons entering pensionable employment on the first day of the next financial year at which contributions should be paid during the period beginning on 1st April 2000 and ending on a date determined by the Secretary of State with the consent of the Treasury (“the relevant period”), so as to defray the cost of the payments of the kinds described in regulation G3(a) to (e) that are likely to be made in respect of them.”.

(3) In its application (by virtue of paragraph 7 of Schedule 15 to the principal regulations) to the 1996 report and the employers' contributions arising from that report, substituted regulation G7 shall have effect as if–

(a) for paragraph (3) there were substituted the following paragraph–

“(3) The report is to specify the percentage of contributable salaries of persons entering pensionable employment on the first day of the next financial year at which contributions should be paid during the period beginning on 1st April 2000 and ending on a date determined by the Secretary of State with the consent of the Treasury (“the relevant period”) so as to defray the cost of the payments of the kinds described in regulation G6(a) to (f) that are likely to be made in respect of them.”;

(b) in paragraphs (7) and (8) for “beginning on 1st April next following the date of the report” there were substituted “beginning on 1st April 2000”; and

(c) in paragraph (10) for “beginning on 1st April next following the date of the 1996 Report” there were substituted “beginning on 1st April 2000”.

(1)

S.I. 1988/1652.

(2)

S.I. 1997/312.