# The Teachers' Pension Scheme Regulations 2014, Regulation 74: Meaning of “actuarial adjustment”


(1) In these Regulations, “actuarial adjustment” means the actuarial adjustment that is applied when calculating the annual rate of pension payable to—
(a) a member who, on the entitlement day for a pension other than an age retirement pension or an ill-health pension, has not reached normal pension age; or
(b) an active member or a deferred member who becomes a pensioner member after reaching normal pension age.
(2) In the case of an actuarial adjustment applied under paragraph (1)(b)—
(a) the actuarial adjustment only relates to a period of pensionable service of the active member or the deferred member after reaching normal pension age; and
(b) the actuarial adjustment must only be applied to the accrued earned pension of the active member or the deferred member that accrued before reaching normal pension age.

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Source: https://www.legislation.gov.uk/uksi/2014/512/regulation/74 (the official version)
Page: https://openlegislation.uk/teachers-pension-scheme-regulations-2014/regulation-74
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.