# The Teachers (Compensation for Redundancy and Premature Retirement) Regulations 2015, Regulation 19: Calculation of annual compensation

Extent: E+W

(1) Subject to regulations 27 and 28, the rate of annual compensation payable to a member of the existing scheme is calculated in accordance with the formula—
A×B/C where A is the member’s period of credited service, B is the member’s average salary and C is the accrual rate used to determine the annual rate of the member’s premature retirement pension.
(2) Subject to regulations 27 and 28, the rate of annual compensation payable to a member of the 2015 scheme, including a transition member, is calculated in accordance with the formula—
D×E/57 where D is the member’s salary on the material date or, if the member was not a full time employee on the material date, the salary that would have been payable had the member been a full time employee on the material date and E is the period of credited service under regulation 17.

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Source: https://www.legislation.gov.uk/uksi/2015/601/regulation/19 (the official version)
Page: https://openlegislation.uk/teachers-compensation-for-redundancy-and-premature-retirement-regulations-2015/regulation-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.