# The Teachers’ Pension Scheme (Scotland) ( No. 2) Regulations 2014, Paragraph 4: Limit on elections

Extent: S

(1) The scheme manager must not accept an additional pension election or a faster accrual election in relation to a member (P) at any time if—
(a) the scheme manager has accepted a buy-out election from P; and
(b) the buy-out value at that time exceeds the overall amount of extra pension at that time.
(2) The scheme manager must not accept an additional pension election or a faster accrual election that would result in the amount of extra pension exceeding the overall amount of extra pension.

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Source: https://www.legislation.gov.uk/ssi/2014/292/schedule/2/paragraph/4 (the official version)
Page: https://openlegislation.uk/teachers-pension-scheme-scotland-no-2-regulations-2014/schedule-2/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.