# The Teachers’ Pension Scheme (Scotland) ( No. 2) Regulations 2014, Regulation 164: Commutation amount for lump sum payable under regulation 162

Extent: S

(1) For the purpose of calculating the annual rate of pension payable to a member (P) who receives a lump sum under regulation 162, the commutation amount is 1/12th of the amount of the lump sum.
(2) If a retirement pension commuted under regulation 165 ceases to be payable under regulation 94 or 111, the commutation amount for any retirement pension that subsequently becomes payable to P is an amount determined by the scheme manager after consulting the scheme actuary.

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Source: https://www.legislation.gov.uk/ssi/2014/292/regulation/164 (the official version)
Page: https://openlegislation.uk/teachers-pension-scheme-scotland-no-2-regulations-2014/regulation-164
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.