Reminder - new scheme provisions
22 May 2007 / Members and Employers
The changes to the TPS resulting from the review mean that some provisions have become obsolete and other new provisions came into effect from 1 January 2007.
In particular, new CAY and PAY elections are no longer accepted (existing elections will be honoured). You can purchase Additional Pension instead.
- Current Added Years (CAY) elections were only open to scheme members who left pensionable employment on or before 31 December 2006 and the cut-off date for all elections was 28 February 2007;
- Past Added Years (PAY) elections were not accepted after 31 December 2006;
For information, the other cut-off dates were as follows:
- Applications for ill-health retirement. The new provisions apply to applications received after 5 January 2007 and, if accepted, Partial Incapacity Benefit or Total Incapacity Benefit is paid;
- Part-time elections are not required when a part-time teacher is appointed after 1 January 2007. Service from that date is automatically pensionable for new appointments or if the terms of a contract are changed. As before, all teachers can opt out. A part-time election will only be required if the teacher is continuing in non pensionable part-time employment and wishes to make it pensionable or has previously opted out. Such elections will take effect from the first day of the month after the election;
- Elected Further Employment (EFE) elections are not required in respect of any post-retirement employment commencing on or after 1 January 2007. All post-retirement employment will automatically be pensionable unless the scheme member opts out;
- Employers may only make certifications under regulation H1 (2) (“stepping down” ) in respect of scheme members who move to a different post at a lower rate of contributable salary on or before 31 December 2006. Where there is a break in service, re-employment must start before 1 February 2007. All employer certifications must have been made before 1 March 2007.
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