Regulation 7 Amendment of Principal Regulations

In the Schedule, at the beginning of paragraph 8(1) there shall be inserted the words “Subject to paragraph 8A”.

After paragraph 8 of the Schedule there shall be inserted the following paragraph–

“8A

Where–

(a)

a participator joined the Teachers' Pension Scheme under the 1989 Regulations or the 1997 Regulations on or after 1st September 1991;

(b)

his election under regulation 4, or, if more than one, his first election, takes effect on or after 1st April 2000; and

(c)

his earnings in his first year of pensionable employment do not exceed one-quarter of the permitted maximum under section 590C of the Taxes Act^f1, the permitted amount shall be G as defined in paragraph 8.”