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Scottish Statutory Instruments
2024 No. 147
Public Service Pensions
The Teachers’ Pension Scheme (Scotland) Amendment Regulations 2024
Made
16th May 2024
Laid before the Scottish Parliament
20th May 2024
Coming into force
29th June 2024
The Scottish Ministers make the following Regulations in exercise of the powers conferred by sections 1(1) and 3 of, and paragraph 4(b) of schedule 2 of, the Public Service Pensions Act 2013( 1) and all other powers enabling them to do so.
In accordance with section 21(1) of that Act, the Scottish Ministers consulted the representatives of such persons as appeared to them likely to be affected by these Regulations.
In accordance with section 3(5) of that Act, these Regulations are made with the consent of the Treasury.
Citation, commencement and effect
1. These Regulations may be cited as the Teachers’ Pension Scheme (Scotland) Amendment Regulations 2024, come into force on 29 June 2024 and have effect from 1 April 2024.
Amendment of the Teachers’ Pension Scheme (Scotland) (No. 2) Regulations 2014
2. The Teachers’ Pension Scheme (Scotland) (No. 2) Regulations 2014( 2) are amended in accordance with regulations 3 and 4.
3. In regulation 179 (contributions for standard earned pension)—
(a) for the table in paragraph (2), substitute—
|
“Column 1 Annual Salary rate for the eligible employment |
Column 2 Standard contributions rate |
|---|---|
| Up to and including £34,286 | 7.35% |
| £34,287 to £46,155 | 8.88% |
| £46,156 to £54,278 | 9.90% |
| £54,279 to £67,975 | 10.61% |
| £67,976 to £92,693 | 11.73% |
| £92,694 and above | 12.14% ”. |
(b) in paragraph (3), after “bands in” insert “the first, second and third rows in”,
(c) after paragraph (3) insert—
“(3A) The lower threshold of the annual salary rate band in the fourth row in Column 1 is increased for each financial year, if there is a relevant increase in the consumer prices index for that financial year, by the appropriate percentage for the financial year, rounding up to the nearest £1. ”.
4. In regulation 186 (employers’ contributions), for paragraphs (c) and (d) substitute—
“(c) 23% from 1 September 2019 to 31 March 2024;
(d) 26% from 1 April 2024;
(e) at the rate determined in each successive valuation report under paragraph 1 of Schedule 4 with effect from a date to be notified to employers by the scheme manager. ”.
IVAN MCKEE
Authorised to sign by the Scottish Ministers
St Andrew’s House,
Edinburgh
16th May 2024
We consent
AMANDA MILLING
JOY MORRISSEY
Two of the Lords Commissioners of His Majesty’s Treasury
14th May 2024
EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations amend the Teachers’ Pension Scheme (Scotland) (No. 2) Regulations 2014 with effect from 1 April 2024. Section 3(3)(b) of the Public Service Pensions Act 2013 provides that scheme regulations may make retrospective provision.
Firstly, they substitute the table of employee contribution rates in regulation 179 with an updated table.
Secondly, they amend regulation 179 so that only the first three salary rate bands in the table of employee contribution rates will be increased annually in line with inflation.
Thirdly, they amend regulation 186 to provide for a new rate of employers’ contributions.
2013 c. 25. Section 3 was relevantly amended by section 94 of the Public Service Pensions and Judicial Offices Act 2022 (c. 7).
S.S.I. 2014/292, relevantly amended by S.S.I. 2015/97and S.S.I. 2019/48.