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(This note is not part of the Regulations)
These Regulations, which come into force on 1st April 2015, make various amendments of the Teachers’ Pension Scheme (Scotland) (No. 2) Regulations 2014 (“the 2014 Regulations”). The 2014 Regulations establish a new pension scheme for teachers in Scotland with effect from that date.
The most significant provisions in these Regulations are as follows. Regulation 16 provides for members’ contribution rates and for the salary bands used for establishing the rates to be uprated by reference to changes in the consumer prices index. Regulation 18 makes provision for employers’ contributions. Regulation 35 deals with the situation where a transition member of the new scheme was involved in winding-down employment prior to the relevant transition date. Regulation 44 inserts a new Schedule 4 into the 2014 Regulations. The new Schedule includes provisions for scheme valuations and the employer cost cap and for the procedure to be followed in the event of a breach of the parameters for the cost cap cost of the scheme.
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Policy Note sets out a brief statement of the purpose of a Scottish Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Scottish Statutory Instrument accessible to readers who are not legally qualified and accompany any Scottish Statutory Instrument or Draft Scottish Statutory Instrument laid before the Scottish Parliament from July 2012 onwards. Prior to this date these type of notes existed as ‘Executive Notes’ and accompanied Scottish Statutory Instruments from July 2005 until July 2012.
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