# The Teachers’ Pension Scheme (Scotland) ( No. 2) Regulations 2014, Paragraph 22: Faster accrual election

Extent: S

(1) A member (P) may elect, in relation to pensionable service in an eligible employment, to pay contributions to accrue earned pension at a faster accrual rate in a financial year (“faster accrual election”).
(2) A faster accrual election must state the faster accrual rate which is to apply to P’s pensionable earnings in that employment for that financial year.
(3) A faster accrual election—
(a) must be made—
(i) in the financial year before the financial year to which it relates; or
(ii) if P is a new joiner, within one month after P enters pensionable service in relation to an employment;
(b) has effect from—
(i) the start of the financial year to which it relates; or
(ii) if P is a new joiner, one month after the election is received by the scheme manager; and
(c) ceases to have effect at the end of the financial year to which it relates unless it is revoked before then.
(4) When making a faster accrual election, P must be—
(a) in pensionable service; and
(b) under normal pension age.

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Source: https://www.legislation.gov.uk/ssi/2014/292/schedule/2/paragraph/22 (the official version)
Page: https://openlegislation.uk/teachers-pension-scheme-scotland-no-2-regulations-2014/schedule-2/paragraph-22
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.