# The Teachers' Pension Scheme Regulations 2014, Regulation 191: Calculation of balance of contributions


(1) The balance of contributions is (A-B)-C, where—
A is the total of the amounts specified in paragraph (2);
B is the total of the deductions specified in paragraph (3); and
C is the amount of tax chargeable on (A-B) under section 205 of FA 2004.
(2) The amounts are—
(a) all members' contributions, additional pension contributions, buy-out contributions and faster accrual contributions paid up to the date of receipt of the application for repayment, except any paid in respect of a period of pensionable service for which a short-service serious ill-health grant has been paid; and
(b) interest on those contributions from the first day of the financial year following that in which they were paid to the date of payment at 3% per year, compounded with yearly rests.
(3) The deductions are—
(a) the amount of any previous repayment under regulation 189; and
(b) if the scheme manager has paid a contributions equivalent premium, the amount recoverable by the scheme manager under sections 61 to 63 of PSA 1993.

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Source: https://www.legislation.gov.uk/uksi/2014/512/regulation/191 (the official version)
Page: https://openlegislation.uk/teachers-pension-scheme-regulations-2014/regulation-191
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.