# The Teachers' Superannuation (Additional Voluntary Contributions) Regulations 1989, Regulation 11: Retirement and dependant’s pensions


(1) The benefits that may be provided under this regulation are a retirement pension and one or more dependant’s pensions.
(2) A retirement pension is a pension payable to the participator for life, commencing–
(a) where a benefits election is made during the period specified in paragraph (5), or one made within 3 months after his retirement is accepted, on the date of his retirement, or
(b) where an election made 3 months or more after his retirement is accepted, or the pension is purchased under paragraph (10), as soon as is reasonably practicable.
(3) A dependant’s pension is a pension which would become payable to a dependant on the death of the participator after his retirement and–
(a) in the case of an adult, would be payable for life, and
(b) in the case of a child, would cease to be payable when he ceased to be a child for the purposes of the family benefit provisions.
(4) The persons who are dependants are–
(a) any surviving spouse of the participator,
(b) any person who at the time of the participator’s death is a child of his for the purposes of the family benefit provisions, and
(c) any person in respect of whom at the time of the death a nomination under regulation E22 of the 1988 Regulations (nomination to receive pension under the family benefit provisions) has effect.
(5) During the month ending on the date of his retirement, a participator is to make a benefits election; but if the Secretary of State is satisfied that it was not reasonably practicable for an election to be made during that period he may accept one made after retirement.
(6) The notice of a benefits election is to specify–
(a) whether a retirement pension is to be provided,
(b) for whom, if anyone, dependant’s pensions are to be provided,
(c) if more than one pension is to be provided, the proportion of the amount obtained by realising the pension investments that is to be applied to the purchase of each of them,
(d) in respect of every pension to be provided, whether the annual rate of the pension–
(i) is to be fixed, or
(ii) is to vary in accordance with the Index, or
(iii) is to increase yearly by a specified percentage or, if lower than that percentage, by any increase in the Index for the year in question,
and from which of the pension providers it is to be purchased.
(7) The pension providers are the companies listed in Schedule 1.
(8) In the case of a retirement pension, the notice may also specify that if the participator dies within the period of 5 years beginning when the pension commences the balance that would have been payable during the remainder of that period if the pension had continued at the rate in force at the time of his death is to be paid as a lump sum.
(9) Subject to paragraphs (10) and (11), the Secretary of State is to realise the pension investments and apply the amount obtained to the purchase from the specified pension provider or providers of the benefits specified in the notice of election.
(10) Subject to paragraph (11), the Secretary of State–
(a) if he does not accept a benefits election made after retirement, is to, and
(b) if–
(i) 6 months after retirement no election has been made, and
(ii) he is satisfied that there is no reasonable excuse for the delay,
may at any time,
apply the amount obtained to the purchase from one or more of the pension providers of such benefits as appear to him to be suitable having regard to regulation 13 (benefit limits) and to the participator’s family circumstances and his age and health.
(11) If–
(a) there are exceptional circumstances of serious ill-health, or
(b) his aggregate pension benefits would be trivial,
the Secretary of State may realise the investments without purchasing any pension, and in that event the amount obtained becomes payable as a lump sum.
(12) Aggregate pension benefits are trivial if the annual rate of the retirement pension that could be purchased, together with the annual equivalent of all pension benefits payable to the participator from other sources, would not exceed–
(a) £104, or
(b) if greater, any amount prescribed by regulations for the time being in force under paragraph 15(4) of Schedule 16 to the Social Security Act 1973.

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Source: https://www.legislation.gov.uk/uksi/1989/946/regulation/11 (the official version)
Page: https://openlegislation.uk/teachers-superannuation-additional-voluntary-contributions-regulations-1989/regulation-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.