{
  "url": "https://openlegislation.uk/teachers-pensions-regulations-1997/regulation-G2",
  "json_url": "https://openlegislation.uk/teachers-pensions-regulations-1997/regulation-G2.json",
  "legislation": "uksi/1997/3001",
  "legislation_title": "The Teachers' Pensions Regulations 1997",
  "legislation_url": "https://openlegislation.uk/teachers-pensions-regulations-1997",
  "path": "regulation/G2",
  "kind": "regulation",
  "number": "G2",
  "heading": "Receipts etc. to be credited",
  "text": "(1) Employees' and employers' contributions received during the financial year are to be credited to the account.\n(2) Employees' contributions comprise—\n(a) all contributions payable under regulations C3(1) and (3), C4, C5, C6, C8, C11 and paragraph 36 of Schedule 10,\n(b) so much of the contributions payable by services education officers under regulation C3(2) as falls within regulation C3(2)(a),\n(c) so much of any additional contributions payable under regulation C9 and C10 as would have been payable under regulation C3(1) if pensionable employments had continued, and\n(d) all amounts payable under regulations C16 and C17 (return of repaid contributions).\n(3) Employers' contributions comprise—\n(a) the contributions payable under regulations G5, G6 and G8,\n(b) so much of the contributions payable by services education officers under regulation C3(2) as falls within regulation C3(2)(b), and\n(c) so much of any additional contributions payable under regulation C9 and C10 as would have been payable under regulation G5 if pensionable employments had continued.\n(4) There are also to be credited to the account—\n(a) the closing balance in the account for the preceding financial year,\n(b) all transfer values accepted under regulation F4 and additional transfer values under regulation D6 of the 1988 regulations (which continues to have effect by virtue of paragraph 12 of Schedule 15 despite the revocation of the 1988 Regulations) received during the financial year,\n(c) all contributions equivalent premiums refunded, or recovered under section 61 of the 1993 Act, during the financial year,\n(d) any interest and other payments under these Regulations received during the financial year, and\n(e) the notional investment income for the financial year on the balance in the account.\n(5) For the purposes of paragraph (4)(e), the notional investment income is an amount determined by the Government Actuary and derived by multiplying the balance on the account from time to time by the estimated percentage return (calculated over such period as the Government Actuary determines) on the total invested assets of relevant pension funds in the United Kingdom; and “relevant pension funds” means pension funds in excess of £1,000 million or such other sum as the Secretary of State may from time to time determine: provided that, in determining such an amount, the Government Actuary shall have regard to such information relating to such return on such assets as may be available to him from any organisation in the United Kingdom, designated by the Secretary of State, which compiles and publishes statistics relating to the assets of such funds.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "am (with transtl provns) (1.1.2007)",
      "affecting": "uksi/2006/3122",
      "affecting_title": "The Teachers’ Pensions etc. (Reform Amendments) Regulations 2006"
    },
    {
      "type": "added",
      "affecting": "uksi/2000/665",
      "affecting_title": "The Teachers' Pensions (Amendment) Regulations 2000"
    },
    {
      "type": "am (10.1.2003)",
      "affecting": "uksi/2002/3058",
      "affecting_title": "The Teachers’ Pensions (Amendment) Regulations 2002"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1997/3001/regulation/G2",
    "retrieved_at": "2026-10-29T11:40:26.186253+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."
}