{
  "url": "https://openlegislation.uk/teachers-pensions-regulations-2010/regulation-129",
  "json_url": "https://openlegislation.uk/teachers-pensions-regulations-2010/regulation-129.json",
  "legislation": "uksi/2010/990",
  "legislation_title": "The Teachers' Pensions Regulations 2010",
  "legislation_url": "https://openlegislation.uk/teachers-pensions-regulations-2010",
  "path": "regulation/129",
  "kind": "regulation",
  "number": "129",
  "heading": "Meaning of “standard rate” of interest",
  "text": "(1) Where, under any provision of these regulations, interest is required to be paid at the standard rate, the interest is calculated in accordance with this Regulation.\n(2) During any financial year which ends on or before 31st March 2011 the rate of interest is ((RI-RE)/RE x 100)+3.5 % per year, where—\nRI is the retail prices index for September in the previous financial year, and\nRE is the retail prices index for September in the financial year before the one referred to in the definition of RI\nbut if RI is lower than RE the rate of interest is 3.5% per year.\n(2A) From 1st April 2011, the rate of interest is the Superannuation Contributions Adjusted for Past Experience discount rate set by the Treasury.\n(3) Interest is compounded with monthly rests.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in reg. 129(2) inserted (1.4.2011) by The Teachers’ Pensions (Miscellaneous Amendments) Regulations 2011 (S.I. 2011/614), reg. 1, Sch. 2 para. 10(2)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Reg. 129(2A) inserted (1.4.2011) by The Teachers’ Pensions (Miscellaneous Amendments) Regulations 2011 (S.I. 2011/614), reg. 1, Sch. 2 para. 10(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2010/990/regulation/129",
    "retrieved_at": "2026-10-29T02:45:27.973590+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."
}