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Paragraph 32 Determination of final salary

England and Wales

(1)

For the purpose of calculating benefits payable under the existing scheme to or in respect of a transition member with continuity of service, the member's final salary is determined by reference to Part 5 of F1the existing scheme regulations F2and Schedule 7 to the Act.

(2)

Where a salary restriction under regulation 39 of the existing scheme regulations applies in respect of the benefits payable to a transition member, no repayment of contributions is payable under regulation 26 of the existing scheme regulations.

Annotations

Textual amendments

F1

Words in Sch. 3 para. 32 substituted (1.4.2015) by The Teachers Pension Scheme (Amendment) Regulations 2014 (S.I. 2014/2652), regs. 1, 38(b)

F2

Words in Sch. 3 para. 32(1) inserted (1.4.2015) by The Teachers Pension Scheme (Amendment) Regulations 2014 (S.I. 2014/2652), regs. 1, 38(a)