# The Teachers' Pension Scheme Regulations 2014, Paragraph 34: Payment of buy-out contributions


(1) A member (P) must—
(a) make the first monthly payment within 2 months after the end of the month in which a buy-out election is accepted; and
(b) continue to make the monthly payments until the end of the contributions payment period.
(2) The final monthly payment is due in the month before the buy-out election has effect.
(3) If the scheme manager re-determines the amount of the monthly payment during the contributions payment period, P must pay the re-determined amount from the beginning of the next financial year.
(4) P is taken to revoke a buy-out election if—
(a) a monthly payment is missed; and
(b) the payment is not made within 3 months after P receives a written demand from the scheme manager.

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Source: https://www.legislation.gov.uk/uksi/2014/512/schedule/2/paragraph/34 (the official version)
Page: https://openlegislation.uk/teachers-pension-scheme-regulations-2014/schedule-2/paragraph-34
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.