The Teachers' Superannuation (Scotland) Amendment Regulations 1999

Contributions where an election under regulation B2(4) has been made

5.  After regulation C2 there shall be inserted–

“Contributions where an election under regulation B2(4) has been made

C2A.— (1) This regulation applies where–

(a) a teacher has elected under regulation B2(4) that his part-time employment should be pensionable; and

(b) the Secretary of State has specified that the election shall have effect from an earlier date than the first day of the month after that in which the notice is given.

(2) Where this regulation applies the teacher shall–

(a) pay the contributions calculated in accordance with regulation C2 referable to the back period; and

(b) unless the Secretary of State determines otherwise, pay interest on such contributions which have accrued on each reference date, at 7% per annum compounded with yearly rests from the reference date in question to the date of payment of the contributions.

(3) For the purposes of this regulation–

(a) the first reference date is the date a year after the end of the month in which the beginning of the back period falls;

(b) the next reference date is the date a year after the first reference date and each subsequent reference date is the date a year after the previous reference date; and

(c) the contributions which have accrued on a reference date are the contributions which would be outstanding on that date if the teacher had been in pensionable employment during the back period and if contributions had not been paid in accordance with regulation C14.”.