# The Teachers' Pension Scheme Regulations (Northern Ireland) 2014, Regulation 125: Annual rate of short-service annuity


The annual rate of a short-service annuity is the actuarial equivalent (to be determined by the Department after taking advice from the scheme actuary) of the sum of—
(a) all of the members' contributions, faster accrual contributions (if any) and additional pension contributions (if any) in respect of a period of post-benefit service paid up to the date of receipt of the application under regulation 162; and
(b) interest to the date of payment at 3% per year, compounded with yearly rests on those contributions from the first day of the financial year following that in which they were paid.

---
Source: https://www.legislation.gov.uk/nisr/2014/310/regulation/125 (the official version)
Page: https://openlegislation.uk/teachers-pension-scheme-regulations-northern-ireland-2014/regulation-125
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.