{
  "url": "https://openlegislation.uk/teachers-pension-scheme-scotland-no-2-regulations-2014/schedule-2/paragraph-31",
  "json_url": "https://openlegislation.uk/teachers-pension-scheme-scotland-no-2-regulations-2014/schedule-2/paragraph-31.json",
  "legislation": "ssi/2014/292",
  "legislation_title": "The Teachers’ Pension Scheme (Scotland) ( No. 2) Regulations 2014",
  "legislation_url": "https://openlegislation.uk/teachers-pension-scheme-scotland-no-2-regulations-2014",
  "path": "schedule/2/paragraph/31",
  "kind": "paragraph",
  "number": "31",
  "heading": "Eligible to make buy-out election",
  "text": "(1) A member (P) who has a normal pension age over 65 may elect to pay contributions to buy out the standard reduction (“buy-out election”) for a period of up to 3 years insofar as this relates to P’s—\n(a) standard earned pension; and\n(b) faster accrual earned pension (if any).\n(2) A buy-out election has effect from the day on which the scheme manager accepts the election.\n(3) A buy-out election ceases to have effect when the earliest of the following occurs—\n(a) P reaches normal pension age;\n(b) a retirement pension other than a phased retirement pension becomes payable to P;\n(c) P revokes the election or is taken to revoke the election.\n(4) A buy-out election may only be made within 6 months after P enters pensionable service under this scheme.\n(5) When making a buy-out election, P must be—\n(a) in pensionable service; and\n(b) under normal pension age.\n(6) P may by written notice to the scheme manager vary a buy-out election if P’s normal pension age changes before a retirement pension becomes payable to P.",
  "extent": "S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in sch. 2 para. 31(1) inserted (1.4.2015) by The Teachers’ Pension Scheme (Scotland) Amendment Regulations 2015 (S.S.I. 2015/97), regs. 1, 28"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Sch. 2 para. 31(4) modified (1.10.2023) by The Teachers’ Pensions (Remediable Service) (Scotland) Regulations 2023 (S.S.I. 2023/241), regs. 1(b), 31"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 2 para. 31 in force at 1.4.2015, see reg. 1(2)(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ssi/2014/292/schedule/2/paragraph/31",
    "retrieved_at": "2026-10-28T21:33:09.984508+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}