The Teachers' Superannuation (Scotland) Regulations 2005

Revaluation of guaranteed minimum in certain cases

E3.—(1) This regulation applies where–

(a) a teacher has ceased to be employed in reckonable service; and

(b) the guaranteed minimum in relation to his or her pension is appropriately secured (within the meaning of section 19 of the 1993 Act).

(2) The earnings factors of such a teacher shall be determined for the purposes of section 14(2) of that Act–

(a) by reference to the last order under section 21 of the Pensions Act(1) or section 148 of the Social Security Administration Act 1992(2) to come into force before the end of the tax year in which he or she ceased to be a pensionable employee; and

(b) without reference to the last such order to come into force before the end of the final relevant year.

(3) The weekly equivalent mentioned in section 14(2) of the 1993 Act shall be increased by at least the prescribed percentage for each relevant year after the end of the tax year in which he or she ceased to be a pensionable employee and in accordance with such additional requirements as may be prescribed for the purposes of section 16(3)(3) of that Act.

(4) In this regulation–

• “relevant year” and “final relevant year” have the meanings given respectively in sections 14(8) and 16(5) of the 1993 Act(4); and

• “prescribed percentage” has the meaning given in regulation 62 of the Occupational Pension Schemes (Contracting-out) Regulations 1996(5).

(1)

1975 c. 60; section 21 was repealed by the Social Security (Consequential Provisions) Act 1992 (c. 6), section 3(1) and Schedule 1.

(2)

1992 c. 5 as amended by the Pension Schemes Act 1993 (c. 48), Schedule 8, the Pension Act 1995 (c. 26), section 128 and the Child Support, Pensions and Social Security Act 2000 (c. 19), sections 33 and 37.

(3)

Section 16(3) was amended by the Pensions Act 1995 (c. 26), section 151 and Schedule 5, paragraph 28 and is modified by S.I. 1996/1172, regulation 65.

(4)

Section 14(8) was amended by the Pension Act 1995 (c. 26) (“the 1995 Act”) section 151 and, Schedule 5, paragraph 27; and section 16(5) was amended by the 1995 Act, Schedule 5, paragraph 28 and the Welfare Reform and Pensions Act 1999 (c. 30), Schedule 2, paragraph 4.

(5)

S.I. 1996/1172, as amended by S.I. 2002/681.