Legislation – The Teachers’ Pension Scheme (Remediable Service) Regulations 2023
PART 8Liabilities and payment
CHAPTER 2Interest, compensation and netting off
Indirect compensation71.
(1)
This regulation applies where—
(a)
(b)
the relevant loss is a reduction of benefit under—
(i)
regulation 123 of the 2010 Regulations, or
(ii)
regulation 182 of the 2014 Regulations.
(2)
M is not to be paid an amount under section 23 of PSPJOA 2022 by way of compensation in respect of the relevant loss.
(3)
Instead, the amount of benefit payable under a teacher pension scheme is to be increased to reflect the amount of the relevant loss in such manner as determined by the scheme manager in accordance with direction 10(2) to (4) of the PSP Directions 2022.