{
  "url": "https://openlegislation.uk/teachers-pension-scheme-scotland-no-2-regulations-2014/schedule-2/paragraph-37",
  "json_url": "https://openlegislation.uk/teachers-pension-scheme-scotland-no-2-regulations-2014/schedule-2/paragraph-37.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/37",
  "kind": "paragraph",
  "number": "37",
  "heading": "Revoking a buy-out election",
  "text": "(1) A member (P) may revoke a buy-out election at any time before the end of the contributions payment period.\n(2) If P revokes a buy-out election or is taken to revoke a buy-out election—\n(a) P’s monthly payments cease to be payable on the date of revocation; and\n(b) when a retirement pension becomes payable to P, the standard reduction applies to a proportion of the maximum as determined by the scheme manager.\n(3) In determining the proportion, the scheme manager must take into account—\n(a) the number of monthly payments made; and\n(b) the number of years stated in the buy-out election.\n(4) If P revokes the election or is taken to revoke a buy-out election, P may not make a subsequent buy-out election.\n(5) A revocation must be by written notice to the scheme manager.\n(6) A revocation has effect from the date it is received by the scheme manager (“date of revocation”).",
  "extent": "S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 2 para. 37 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/37",
    "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."
}