# The Teachers' Pension Scheme Regulations 2014, Paragraph 1: Interpretation of Schedule


In this Schedule—
“additional pension contributions” means contributions for an additional pension;
“additional pension election” means an election under Chapter 1 of Part 2 of this Schedule;
“amount of accrued extra earned pension” means the amount of accrued earned pension attributable to a faster accrual election;
“amount of extra pension” has the meaning given in paragraph 2;
“buy-out contributions” means contributions to buy out the standard reduction;
“buy-out election” means an election under Chapter 1 of Part 4 of this Schedule;
“buy-out value” means an amount determined or re-determined by the scheme manager in accordance with Part 4 of this Schedule;
“contributions” means—
(a)additional pension contributions;
(b)faster accrual contributions; or
(c)buy-out contributions;
“contributions payment period”, for contributions paid monthly, means the period which—
(a)begins on the start date; and
(b)ends on the date on which the final monthly payment is due;
“election” means—
(a)an additional pension election;
(b)a faster accrual election; or
(c)a buy-out election;
“faster accrual contributions” means contributions for a faster accrual rate;
“faster accrual election” means an election under Chapter 1 of Part 3 of this Schedule;
“faster accrual rate”, in relation to P's pensionable earnings, means 1/45th, 1/50th or 1/55th;
“monthly payments”, in respect of an election, means contributions paid monthly;
“overall amount” means the overall amount of extra pension as defined in paragraph 3;
“refund period”, in relation to additional pension contributions, means the period ending one year after the start date;
“start date”—
(a)for contributions paid by lump sum, means the date on which the scheme manager receives the lump sum; and
(b)for monthly payments, means the first day of the second month after the month in which the election is accepted.

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Source: https://www.legislation.gov.uk/uksi/2014/512/schedule/2/paragraph/1 (the official version)
Page: https://openlegislation.uk/teachers-pension-scheme-regulations-2014/schedule-2/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.