# The Teachers' Pension Scheme Regulations 2014, Regulation 172: Amount of lump sum payable under regulation 171 instead of retirement pension


(1) This regulation applies to a member (P) who applies under regulation 171 to receive a lump sum instead of a retirement pension.
(2) The amount of the lump sum payable to P is the total of—
(a) for an age retirement pension, ill-health pension or total incapacity pension, a sum equal to 5 x the annual rate of the retirement pension, and
(b) for a phased retirement pension that is already in payment, a sum equal to (A-B) x the annual rate of the phased retirement pension where—
A is 5, and
B is the period (in years and fractions of a year) from the date on which the phased retirement pension was first paid until the date of the application .

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Source: https://www.legislation.gov.uk/uksi/2014/512/regulation/172 (the official version)
Page: https://openlegislation.uk/teachers-pension-scheme-regulations-2014/regulation-172
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.