Paragraph 16

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch.4, para 2(1) amended by Teachers' Superannuation 1993 reg.24(a)
Sch.4, para 4(2)(b) amended by Teachers' Superannuation 1993 reg.24(b)
Sch.4, para 4A added by Teachers' Superannuation 1993 reg.24(c)
Sch.4, para 9(2) amended by Teachers' Superannuation 1993 reg.24(e)
Sch.4, para 14(5) amended by Teachers' Superannuation 1993 reg.24(f)
Sch.4, Table 3 amended by Teachers' Superannuation 1993 reg.24(d)
Sch.4, Pt IV revoked by Teachers Superannuation 1994 reg.22
sch. 4 amended by Teachers' Superannuation 1989

(1)

Where the person has not attained the age of 60 when he ceases to be in pensionable employment, the additional contributions consist of a lump sum which is the actuarial equivalent of the actual or prospective increase in benefits attributable to his becoming entitled to count the past period as reckonable service under regulation D3.

(2)

In any other case, the additional contributions consist of a lump sum calculated in accordance with paragraph 9(1) but with the substitution as B of his average salary.

(3)

A lump sum payable under this paragraph may be set off against any retirement lump sum to which the person is entitled.