The Local Government Pension Scheme Regulations 2013

[^key-a84d95a9c74fbd5c0d5307244c0a06a8]: Words in reg. 44(4) inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 3(8)

[^key-e848c7920024e139160efc121f91e064]: Words in reg. 45(4)(5)(9)(10) inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 3(9)

[^key-3435aeaf47c515a188cea3c918cf0d2a]: Reg. 47(8) inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 3(10)

[^key-f58268711cb1084c87239b205b904065]: Reg. 48(10B) inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 3(11)

[^key-635b5c5ce8cb90f97584d095416222ac]: Reg. 62(6A) inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 3(12)

[^key-3567ed13a8b1c9d0b16ae75406d6f958]: Reg. 64(2ZAA) inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 3(13)

[^key-832ab16a182d3a12fabfb6077fbaa98d]: Reg. 81(A1) inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 3(14)

[^key-483bcbf24a28ecd9ef38fdb1c05b3bec]: Reg. 96(1B) inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 3(15)(a)

[^key-d9ba8f0c3655b2e03f5447c8d78e8b45]: Reg. 96(4) inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 3(15)(b)

[^key-32d2e1d9c76b811d88d3dbe28e8b7098]: Reg. 98(8) inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 3(16)

[^key-acf580cd4b1f3ab7e718200d9008d370]: Reg. 99(2A) inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 3(17)

[^key-cf47cc28eea4d46e7e0ac73acd988ad5]: Reg. 28(2A) inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 3(2)

[^key-6880ca7252da9bfba3392ce2c0a574ec]: Reg. 64 modified (20.12.2023) by The York and North Yorkshire Combined Authority Order 2023 (S.I. 2023/1432), arts. 1(2), 33(2), Sch. 5 para. 55(2)

[^key-cdb4b045758aa0b0a8961ecb9d171600]: Reg. 64 modified (20.12.2023) by The York and North Yorkshire Combined Authority Order 2023 (S.I. 2023/1432), arts. 1(2), 46(2), Sch. 7 para. 12

[^key-e2a2aa2e29ea42da168e9f7f5dea5185]: Words in Sch. 3 Pt. 2 table inserted (20.12.2023) by The York and North Yorkshire Combined Authority Order 2023 (S.I. 2023/1432), arts. 1(2), 26(5)

[^key-41668f8efcedd3d113fa539baebfce4c]: Words in reg. 95(2)(b) inserted (20.12.2023) by The National Security Act 2023 (Consequential Amendments of Subordinate Legislation) Regulations 2023 (S.I. 2023/1267), reg. 1(2), Sch. para. 31

[^key-b861bb68230a990abe777037a4a8d0d9]: Words in Sch. 3 Pt. 2 table inserted (28.2.2024) by The East Midlands Combined County Authority Regulations 2024 (S.I. 2024/232), regs. 1(2), 36

[^key-5691d0b99fe6ec4d1c524457c76d9650]: Words in Sch. 3 Pt. 2 table substituted (7.5.2024) by The North East Mayoral Combined Authority (Establishment and Functions) Order 2024 (S.I. 2024/402), arts. 1(3), 50(2) (with art. 9)

[^key-54a1c50b96a6c872a698e49cc1e90b25]: Words in Sch. 3 Pt. 2 table inserted (5.2.2025) by The Hull and East Yorkshire Combined Authority Order 2025 (S.I. 2025/113), arts. 1(2), 28(5)

[^key-b4e9c77822ad7b94ec957d18a0c04121]: Words in Sch. 3 Pt. 2 table inserted (5.2.2025) by The Devon and Torbay Combined County Authority Regulations 2025 (S.I. 2025/115), regs. 1(2), 21

[^key-222679c843edd99eeb2fb038e20f4da3]: Words in Sch. 3 Pt. 2 table inserted (5.2.2025) by The Greater Lincolnshire Combined County Authority Regulations 2025 (S.I. 2025/117), regs. 1(2), 34

[^key-e6f24c0cb8d7852ac2500ff41f5a2b3b]: Words in Sch. 3 Pt. 2 table inserted (5.2.2025) by The Lancashire Combined County Authority Regulations 2025 (S.I. 2025/118), regs. 1(2), 23

[^key-61e922795145d6c59408bad41f26b171]: Word in Sch. 1 omitted (6.4.2025) by virtue of The Neonatal Care Leave and Pay (Consequential Amendments to Subordinate Legislation) Regulations 2025 (S.I. 2025/201), regs. 1(2), 23(4)(a)(i)

[^key-33e4415da753e32af91011b294582970]: Word in Sch. 1 inserted (6.4.2025) by The Neonatal Care Leave and Pay (Consequential Amendments to Subordinate Legislation) Regulations 2025 (S.I. 2025/201), regs. 1(2), 23(4)(a)(ii)

[^key-4c1812122f4d7099d03e33fe71fd0581]: Words in Sch. 1 inserted (6.4.2025) by The Neonatal Care Leave and Pay (Consequential Amendments to Subordinate Legislation) Regulations 2025 (S.I. 2025/201), regs. 1(2), 23(4)(a)(iii)

[^key-a14fd9215091721e0c0436ab45543cfe]: Words in Sch. 1 inserted (6.4.2025) by The Neonatal Care Leave and Pay (Consequential Amendments to Subordinate Legislation) Regulations 2025 (S.I. 2025/201), regs. 1(2), 23(4)(b)

[^key-f930d76eee5caab04b526c411b133c5e]: Words in Sch. 1 inserted (6.4.2025) by The Neonatal Care Leave and Pay (Consequential Amendments to Subordinate Legislation) Regulations 2025 (S.I. 2025/201), regs. 1(2), 23(4)(c)

[^key-2fedfbd0dc9064e470c25c8509fbbc8d]: Words in reg. 15(4)(b) inserted (6.4.2025) by The Neonatal Care Leave and Pay (Consequential Amendments to Subordinate Legislation) Regulations 2025 (S.I. 2025/201), regs. 1(2), 23(2)

[^key-a5e88bc58868570652bbad175f8ea31f]: Words in reg. 16(17)(a) inserted (6.4.2025) by The Neonatal Care Leave and Pay (Consequential Amendments to Subordinate Legislation) Regulations 2025 (S.I. 2025/201), regs. 1(2), 23(3)

[^key-ce52e3c7ed33e444fe62ded0671e62f1]: Words in Sch. 3 Pt. 2 table inserted (24.2.2026) by The Cumbria Combined Authority Order 2026 (S.I. 2026/158), arts. 1(2), 15(3)

[^key-e393e08f5cd86b71511d346ecbafac61]: Words in Sch. 3 Pt. 2 table inserted (24.2.2026) by The Cheshire and Warrington Combined Authority Order 2026 (S.I. 2026/159), arts. 1(2), 16(3)

25

The North Wales Corporate Joint Committee (established by the North Wales Corporate Joint Committee Regulations 2021 (S.I. 2021/339 (W. 93))).

24

A combined authority established by an order under section 103(1) of the Local Democracy, Economic Development and Construction Act 2009

Civil servants etc engaged in probation provision

3A

• (1) A person who meets Condition A and Condition B shall for the purposes of these Regulations be deemed to be in the employment of the Secretary of State.

• (2) Condition A is that the person is employed in the civil service of the State.

• (3) Condition B is that the person is engaged in probation provision within the meaning of section 2 of the Offender Management Act 2007 (responsibility for ensuring the provision of probation services).

• (4) Upon and following the transfer of the responsibility for probation services from a probation trust to another person as a result of arrangements made for the provision of probation services under section 3 of the Offender Management Act 2007 (power to make arrangements for the provision of probation services), any provision of these Regulations which confers a function on a body by virtue of being or having been a member’s employer shall, subject to paragraph (6), have effect as if the Secretary of State were the employer of a person to whom paragraph (5) applies.

• (5) This paragraph applies to—

• (a) any deferred member, deferred pensioner member, pensioner member or person entitled to a refund of contributions under a local government pension scheme by virtue of employment with a probation trust, or with a predecessor local probation board or probation committee, which ended before the transfer of the responsibilities referred to in paragraph (4) and in respect of whom the probation trust was the Scheme employer immediately prior to the transfer of responsibilities referred to in paragraph (4);

• (b) any member who becomes a deferred member, deferred pensioner member or pensioner member after the transfer of responsibilities referred to in paragraph (4) above who is a member of the Scheme by virtue of employment with a Scheme employer who is engaged in the provision of probation services (but only in respect of benefits relating to periods of membership whilst the member was engaged in the provision of probation services or periods of membership which have been aggregated with such periods, or benefits derived from a transfer into the Scheme during such periods of membership) and:

• (i) either that employment was continuous with the same Scheme employer or it was compulsorily transferred on one or more occasions to another Scheme employer engaged in the provision of probation services;

• (ii) the admission agreement under which that member was participating in the Scheme has terminated or the Scheme employer that last employed the member has ceased to be a Scheme employer engaged in the provision of probation services in relation to that employment; and

• (iii) the member was in the employment of a Scheme employer engaged in the provision of probation services at a time when that employer was in the ownership of the Secretary of State;

• (c) a survivor member or pension credit member who is entitled to a survivor’s pension or a children’s pension or a pension credit (as the case may be) by virtue of the membership of the Scheme of a person to whom paragraph 5(a) or paragraph 5(b) applies;

• (d) a person specified in arrangements made under section 3 of the Offender Management Act 2007 as a person to whom this paragraph applies; or

• (e) such other person who is or was employed by a person engaged, either currently or in the past, in the provision of probation services or in activities associated with the provision of probation services, as the Secretary of State may specify as a person to whom this paragraph applies.

• (6) Paragraphs (4) and (5) do not apply in respect of any member of a local government pension scheme in respect of whose benefits an exit payment has been made which has met the liabilities of the fund in respect of those benefits.

• (7) For the purposes of this regulation—

• “exit payment” means a payment of that description under regulation 64 (special circumstances where revised actuarial valuations and certificates must be obtained) or its equivalent under any of the Earlier Schemes;

• “probation trust” means a trust established under section 5 of the Offender Management Act 2007;

• “a local government pension scheme” means the Scheme or any of the Earlier Schemes; and

• “Earlier Schemes” has the meaning given in regulation 1(6) of the Local Government Pension Scheme (Transitional Provisions, Savings and Amendment) Regulations 2014.

Restriction on eligibility for active membership

Ending active membership

Deferred and deferred pensioner members

Pensioner members

Pension credit and survivor members

Change of administering authority in connection with probation service arrangements

104

• (1) This regulation applies where in connection with arrangements made for the provision of probation services under section 3 of the Offender Management Act 2007 (power to make arrangements for the provision of probation services) the employees of a probation trust are transferred to another person and—

• (a) an administering authority becomes a member’s appropriate administering authority (“the new authority”); and

• (b) immediately before it does so, another authority was that member’s appropriate administering authority (“the former authority”),

and for the purposes of this regulation it is not material whether the member in question was in the employment of the probation trust immediately before the transfer date or the subject of a transfer of employment to another person.

• (2) Within 30 days of the transfer date—

• (a) the transferring member’s former Scheme employer and (where applicable) the transferring member’s new Scheme employer must supply the former authority and the new authority with such information as those authorities may reasonably require to perform their functions under these Regulations in respect of the transferring members under the Scheme;

• (b) the former authority must supply the new authority with such information as the new authority may reasonably require to perform its functions under these Regulations in respect of the transferring members under the Scheme.

• (3) With effect from the transfer date the liability to pay benefits or a refund of contributions under the Scheme to and in respect of the transferring members shall transfer to the new authority and the former authority must make a transfer payment from its pension fund to the pension fund of the new authority in respect of the transfer share determined in accordance with actuarial guidance issued by the Secretary of State by agreement between an actuary appointed by the former authority and an actuary appointed by the new authority.

• (4) Where the actuaries cannot agree the transfer share or any other matter that needs to be agreed in order to implement the provisions of this Regulation (assuming for this purpose that the payment date is the transfer date) on or before the agreement date—

• (a) the matter shall be referred to a third actuary, chosen by agreement between the actuaries or in default of agreement by the President of the Institute and Faculty of Actuaries; and

• (b) that actuary’s determination, including as to who shall pay the costs of the referral, shall be final.

• (5) The transfer payment shall be made in such manner (including as to the proportion of cash and other permitted assets that will comprise the transfer payment and whether the transfer payment is paid in one or more instalments) as the new authority shall reasonably require.

• (6) The transfer payment from each former authority must be paid on the payment date.

• (7) Where agreement cannot be reached in relation to the payment date on or before the later of the agreement date and 30 days after the date on which the transfer share has been determined by agreement under paragraph (3) or by an actuary’s determination under paragraph (4), the new authority must notify the former authority of the date or dates, which shall be no later than the final payment date, and the date or dates so notified shall become the payment date.

• (8) If a transfer payment is not made in accordance with paragraph (6) or (7), the new authority may by notice in writing require the former authority to pay interest on the amount that falls due and is not so paid.

• (9) Interest payable under paragraph (8) is to be calculated at 3 per cent per annum on a day-to-day basis from the date which falls three calendar months after the payment date to the date of actual payment, compounded with three-monthly rests.

• (10) When the transfer payment has been made in full and any adjustments made in accordance with actuarial guidance issued by the Secretary of State —

• (a) no other payment or transfer of assets shall be made from the pension fund of the former authority by reason of membership covered by the transfer payment;

• (b) the former authority shall have no liability to make any benefit payments or right to receive contributions for any period prior to, on, or subsequent to the transfer date in respect of a transferring member other than as provided for under arrangements made under paragraph (12);

• (c) except where arrangements under paragraph (12) provide otherwise, any payment made or income received by the former authority in respect of a transferring member after the transfer date shall be reimbursed to the former authority by the new authority or paid by the former authority to the new authority (as the case may be) within 45 days of receipt or payment by the former authority.

• (11) The former authority shall provide such assistance and further information in its possession (or to which it has access) as the new authority may reasonably require in relation to the calculation and administration of benefits payable to and in respect of the transferring members under the Scheme, subject to reimbursement by the new authority of the former authority’s reasonable costs for doing so.

• (12) The new authority and the former authority may agree such arrangements as may be necessary for the former authority to continue making benefit payments to or in respect of the transferring members for a period after the transfer date until the new authority is able to make such payments itself (such agreement not to be unreasonably withheld by the former authority).

• (13) The former authority and new authority must cooperate in order to—

• (a) permit members to continue to make AVCs and SCAVCs pursuant to arrangements entered into prior to the transfer date notwithstanding the change of administering authority; or,

• (b) at the member’s request, procure the transfer of the transferring members’ accumulated AVCs and SCAVCs (including investment returns thereon) to arrangements established by the new authority.

• (14) Where a member wishes to continue to make AVCs or SCAVCs in accordance with paragraph 13(a), regulation 17 (additional voluntary contributions) applies in respect of that member as if the references in that regulation to “appropriate administering authority” were references to the administering authority which was the member’s appropriate administering authority at the time the arrangements were entered into.

• (15) For the purposes of this regulation and save where the context otherwise requires—

• “agreement date” means the date which falls 120 days after the date on which the administering authorities have been notified in writing of the transfer of employees, or the date the information described in paragraph (2) has been received, whichever is the later;

• “final payment date” means the date that is 12 months after the later of the date on which the former authority has been notified in writing of the transfer of employees and the date the information described in paragraph (2) has been received;

• “a local government pension scheme” means the Scheme or any of the Earlier Schemes within the meaning of regulation 1(6) of the Local Government Pension Scheme (Transitional Provisions, Savings and Amendment) Regulations 2014;

• “member” includes deferred members, deferred pensioner members and pensioner members of a local government pension scheme and those entitled through them, including pension credit members;

• “payment date” means the date or dates agreed between the former authority and the new authority for the making of the transfer payment to the new authority or the date or dates notified to the former authority in accordance with paragraph (7) where agreement cannot be reached;

• “permitted assets” means liquid, transferable holdings of pooled vehicles which track market capitalisation weighted indices;

• “transfer date” means the date on which the new pension fund becomes the member’s appropriate fund;

• “transferring members” means the employees and former employees (and those entitled through them, including pension credit members) of a probation trust (or its predecessor local probation boards or probation committees) who are the subject of the changes of Scheme employer and appropriate administering authority referred to in paragraph (1) and any persons specified in accordance with regulation 3A(5)(d) or (e) (civil servants etc engaged in probation provision) as a person to whom regulation 3A(5) applies;

• “transfer payment” means a transfer of cash in British pounds sterling or permitted assets equal in value to the transfer share;

• “transfer share” means the value of the assets allocated to the actual and potential liabilities payable from the pension fund of a former authority in respect of the benefits that have accrued to or in respect of transferring members as at the transfer date (whether that accrual arose before the commencement of these Regulations or afterwards), adjusted to the relevant payment date, calculated in accordance with actuarial guidance issued by the Secretary of State;

• “probation trust” means a probation trust established under section 5 of the Offender Management Act 2007.

14

The Secretary of State, in respect of persons specified in regulation 3A(1) (civil servants engaged in probation provision).

PART 3 — Governance

Delegation

105

• (1) The Secretary of State may delegate any function under these Regulations.

• (2) An administering authority may delegate any function under these Regulations including this power to delegate.

Local pension boards: establishment

106

• (1) Each administering authority shall no later than 1st April 2015 establish a pension board (“a local pension board”) responsible for assisting it—

• (a) to secure compliance with—

• (i) these Regulations,

• (ii) any other legislation relating to the governance and administration of the Scheme and any connected scheme, and

• (iii) any requirements imposed by the Pensions Regulator in relation to the Scheme and any connected scheme; and

• (b) to ensure the effective and efficient governance and administration of the Scheme and any connected scheme.

• (2) Where the Scheme manager is a committee of a local authority the local pension board may be the same committee if approval in writing has been obtained from the Secretary of State.

• (3) Where the administration and management of a Scheme is wholly or mainly shared by two or more administering authorities, those administering authorities may establish a joint local pension board if approval in writing has been obtained from the Secretary of State.

• (4) Approval under paragraphs (2) or (3) may be given subject to such conditions as the Secretary of State thinks fit.

• (5) The Secretary of State may withdraw an approval if any conditions under paragraph (4) are not met or if in the opinion of the Secretary of State it is no longer appropriate for the approval to continue.

• (6) Subject to paragraph (7), an administering authority may determine the procedures applicable to a local pension board, including as to the establishment of sub-committees, formation of joint committees and payment of expenses.

• (7) Except where a local pension board is a committee approved under paragraph (2), no member of a local pension board shall have a right to vote on any question unless that member is an employer representative or a member representative.

• (8) A local pension board shall have the power to do anything which is calculated to facilitate, or is conducive or incidental to, the discharge of any of its functions.

• (9) The expenses of a local pension board are to be regarded as part of the costs of administration of the fund held by the administering authority.

Local pension boards: membership

107

• (1) Subject to this regulation each administering authority shall determine—

• (a) the membership of the local pension board;

• (b) the manner in which members of the local pension board may be appointed and removed;

• (c) the terms of appointment of members of the local pension board.

• (2) An administering authority must appoint to the local pension board an equal number, which is no less than 4 in total, of employer representatives and member representatives and for these purposes the administering authority must be satisfied that—

• (a) a person to be appointed to the local pension board as an employer representative has the capacity to represent employers; and

• (b) a person to be appointed to the local pension board as a member representative has the capacity to represent members.

• (3) Except where a local pension board is a committee approved under regulation 106(2) (committee that is a Scheme manager is also local pension board)—

• (a) no officer or elected member of an administering authority who is responsible for the discharge of any function under these Regulations (apart from any function relating to local pension boards or the Local Government Pension Scheme Advisory Board) may be a member of the local pension board of that authority; and

• (b) any elected member of the administering authority who is a member of the local pension board must be appointed as either an employer representative or a member representative.

• (4) Where a local pension board is a committee approved under regulation 106(2) (committee that is a Scheme manager is also local pension board) the administering authority must designate an equal number which is no less than 4 in total of the members of that committee as employer representatives and member representatives and for these purposes the administering authority must be satisfied that—

• (a) a person to be designated as an employer representative has the capacity to represent employers; and

• (b) a person to be designated as a member representative has the capacity to represent members.

Local pension boards: conflict of interest

108

• (1) Each administering authority must be satisfied that any person to be appointed as a member of a local pension board does not have a conflict of interest.

• (2) An administering authority must be satisfied from time to time that none of the members of a local pension board has a conflict of interest.

• (3) A person who is to be appointed as a member of a local pension board by an administering authority must provide that authority with such information as the authority reasonably requires for the purposes of paragraph (1).

• (4) A person who is a member of a local pension board must provide the administering authority which made the appointment with such information as that authority reasonably requires for the purposes of paragraph (2).

Local pension boards: guidance

109

An administering authority must have regard to guidance issued by the Secretary of State in relation to local pension boards.

Scheme advisory board: establishment

110

• (1) A scheme advisory board (“the Local Government Pension Scheme Advisory Board”) is established.

• (2) The function of the Local Government Pension Scheme Advisory Board is to provide advice to the Secretary of State on the desirability of making changes to the Scheme.

• (3) The Local Government Pension Scheme Advisory Board also has the function of providing advice to administering authorities and local pension boards in relation to the effective and efficient administration and management of the Scheme and any connected scheme and their pension funds.

• (4) Subject to these Regulations, the Local Government Pension Scheme Advisory Board may determine its own procedures including as to voting rights, the establishment of sub-committees, formation of joint committees and the payment of remuneration and expenses.

• (5) The Local Government Pension Scheme Advisory Board shall have the power to do anything which is calculated to facilitate, or is conducive or incidental to, the discharge of any of its functions.

Scheme advisory board: membership

111

• (1) The Local Government Pension Scheme Advisory Board shall consist of a Chairman and at least 2, and no more than 12 members appointed by the Secretary of State.

• (2) When deciding whether to make appointments under paragraph (1), the Secretary of State must have regard to the desirability of there being equal representation of persons representing the interests of Scheme employers and persons representing the interests of members.

• (3) A member of the Local Government Pension Scheme Advisory Board is to hold and vacate office in accordance with the terms of that member’s appointment.

• (4) The Chairman of the Local Government Pension Scheme Advisory Board may, with the agreement of the Board, appoint a maximum of 3 persons to be non-voting advisory members of the Board.

• (5) An advisory member of the Local Government Pension Scheme Advisory Board is to hold and vacate that position in accordance with the terms of that member’s appointment.

• (6) The Chairman of the Local Government Pension Scheme Advisory Board may, with the agreement of the Board, appoint persons who are not members of the Local Government Pension Scheme Advisory Board to be members of sub-committees of that Board.

• (7) A member of a sub-committee of the Local Government Pension Scheme Advisory Board is to hold and vacate office in accordance with the terms of that member’s appointment.

Scheme advisory board: conflict of interest

112

• (1) Before appointing any person to be a member of the Local Government Pension Scheme Advisory Board, the Secretary of State must be satisfied that the person does not have a conflict of interest.

• (2) The Secretary of State must be satisfied from time to time that none of the members of the Local Government Pension Scheme Advisory Board has a conflict of interest.

• (3) A person who is to be appointed as a member of the Local Government Pension Scheme Advisory Board must provide the Secretary of State with such information as the Secretary of State reasonably requires for the purposes of paragraph (1).

• (4) A person who is a member of the Local Government Pension Scheme Advisory Board must provide the Secretary of State with such information as the Secretary of State reasonably requires for the purposes of paragraph (2).

Scheme advisory board: funding

113

• (1) The expenses of the Local Government Pension Scheme Advisory Board are to be treated as administration costs of the Scheme and are to be defrayed by the administering authorities within the Scheme in such proportions as shall be determined by the Board.

• (2) The Local Government Pension Scheme Advisory Board must identify the amount to be paid by each administering authority towards its annual costs based on—

• (a) its annual budget approved by the Secretary of State; and

• (b) the number of persons for which the administering authority is the appropriate administering authority.

• (3) An administering authority must pay the amount it is required to pay under this regulation at such time or times as the Local Government Pension Scheme Advisory Board may determine.

Scheme actuary

114

• (1) The Secretary of State must appoint an actuary as Scheme actuary to carry out valuations of the Scheme and any connected scheme in accordance with Treasury directions made under section 11 of the Public Service Pensions Act 2013 (“the Treasury directions”).

• (2) The person appointed as Scheme actuary under paragraph (1) must, in the opinion of the Secretary of State, be appropriately qualified to carry out a valuation of the Scheme.

• (3) The Secretary of State must secure that the Scheme actuary carries out actuarial valuations of the assets and liabilities of the Scheme on the dates specified in the Treasury directions and prepare valuation reports in accordance with the Treasury directions, within such period as enables the requirements in those directions to be met.

• (4) An administering authority must provide the Scheme actuary with any data that the Scheme actuary reasonably requires, in accordance with the Treasury directions, in order to carry out a valuation and prepare a report on the valuation.

Employer cost cap

115

• (1) The employer cost cap for the Scheme is 14.6% of pensionable earnings of members of the Scheme.

• (2) Where the cost of the Scheme, calculated following a valuation in accordance with Treasury directions under section 11 of the Public Service Pensions Act 2013 is more than the margins specified in regulations made under section 12(5) of the Public Service Pensions Act 2013 (“the Cost Cap Regulations”) above or below the employer cost cap, the Secretary of State must follow the procedure specified in paragraph (3) for reaching agreement with administering authorities, employers and members (or representatives of employers and members) as to the steps required to achieve the target cost specified in the Cost Cap Regulations.

• (3) The procedure specified for the purposes of section 12(6)(a) of the Public Service Pensions Act 2013 is consultation for such period as the Secretary of State considers appropriate with the Local Government Pension Scheme Advisory Board with a view to reaching an agreement endorsed by all members of that Board.

• (4) If, following such consultation, agreement is not reached within 3 months of date on which the consultation period ends, the Secretary of State must take steps to adjust the rate at which benefits accrue under regulation 23(4) or (5) (active member’s pension accounts) so that the target cost for the Scheme is achieved.

Scheme advisory board: additional functions

116

• (1) The Local Government Pension Scheme Advisory Board (“the Board”) must obtain a Scheme cost assessment from the Scheme actuary detailing the overall cost of the Scheme and the proportions of that cost being met by Scheme employers and members following an actuarial valuation of the Scheme in accordance with Treasury directions made under section 11 of the Public Service Pensions Act 2013.

• (2) Subject to paragraph (5), where the overall cost of the Scheme is above or below the target overall cost, the Board may make recommendations to the Secretary of State as to the steps to take to bring the overall cost of the Scheme back to or towards the target overall cost.

• (3) Where the proportion of the overall cost of the Scheme which is met by contributions by employers is above or below the target proportion, the Board may make recommendations to the Secretary of State as to the steps to take to bring the proportion of the overall cost of the Scheme which is met by contributions by employers and members back to or towards the target proportion.

• (4) The Board must, before obtaining a Scheme cost assessment under paragraph (1), prepare and publish a statement setting out its policy concerning recommendations to the Secretary of State about the steps to be taken to bring the overall cost of the Scheme back to or towards the target overall cost and the proportions of that cost met by Scheme employers and members, back to or towards the target proportion.

• (5) The Board must not make recommendations under paragraph (2) if steps are required to be taken under regulation 115 (employer cost cap).

• (6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• (7) In this regulation—

• “the overall cost of the Scheme” means the total cost as calculated by the Scheme actuary as part of a Scheme cost assessment making use of the data provided under regulation 114(4) (Scheme actuary) according to such methodology and assumptions as are determined by the Board;

• “the target overall cost” is 19.5% of the pensionable earnings of members of the Scheme;

• “the target proportion” means Scheme employers meeting two-thirds and members meeting one-third of the overall cost of the Scheme.

• (8) Each administering authority must provide the Scheme actuary with any data that the Scheme actuary requires in order to carry out any valuations and produce reports in accordance with directions from the Board for the purposes of this regulation.

• (9) Unless the Board is prevented by paragraph (5) from making recommendations under this regulation, it must, within 23 months of the date on which a Scheme cost assessment is obtained under paragraph (1), publish a report setting out—

• (a) the overall cost of the Scheme;

• (b) the proportions of the overall costs of the Scheme met by employers and members;

• (c) the assumptions and methodology used by the Scheme actuary; and

• (d) any recommendations made to the Secretary of State under this regulation.

• (10) The Board must send a copy of a report published under paragraph (9) to the Secretary of State and the Scheme actuary.

• (11) The Secretary of State must publish a response to a report received under paragraph (10) within six months of the date on which that report is received.

15

Transport for the North.

14

An admission agreement may take effect on a date before the date on which it is executed.

13A

A development corporation established under the New Towns Act 1981 in relation to which the Secretary of State has appointed one or more local authorities to oversee the development of the new town under section 1A of that Act.

Revision of rates and adjustments certificate: Scheme employer contributions

64A

• (1) An administering authority may obtain a revision of the rates and adjustments certificate under regulation 62 (actuarial valuations of pension funds) showing any resulting changes to the contributions of a Scheme employer or employers where—

• (a) the funding strategy mentioned in regulation 58 (funding strategy statements) sets out the administering authority’s policy on amending contributions between valuations; and

• (b) one of the following conditions applies—

• (i) it appears likely to the administering authoritythat the amount of the liabilities arising or likely to arise has changed significantly since the last valuation;

• (ii) it appears likely to the administering authority that there has been a significant change in the ability of the Scheme employer or employers to meet the obligations of employers in the Scheme; or

• (iii) a Scheme employer or employers have requested a review of Scheme employer contributions and have undertaken to meet the costs of that review.

• (2) In revising the certificate, an administering authority must—

• (a) consult the Scheme employer or employers; and

• (b) have regard to the views of an actuary appointed by the administering authority.

Revision of actuarial certificates: exit payments

64B

• (1) Where the funding strategy mentioned in regulation 58 (funding strategy statements) sets out the administering authority’s policy on spreading exit payments, that administering authority may obtain a revision of the rates and adjustments certificate under regulation 62 (actuarial valuations of pension funds) to show the proportion of the exit payment to be paid by the exiting Scheme employer in each year after the exit date over such period as the administering authority considers reasonable.

• (2) In revising the certificate, an administering authority must—

• (a) consult the exiting Scheme employer; and

• (b) have regard to the views of an actuary appointed by the administering authority.

Aggregate Scheme costs: revised certificates

Supply of copies of valuations, certificates etc

26

The Mid Wales Corporate Joint Committee (established by the Mid Wales Corporate Joint Committee Regulations 2021 (S.I. 2021/342 (W. 96))).

27

The South East Wales Corporate Joint Committee (established by the South East Wales Corporate Joint Committee Regulations 2021 (S.I. 2021/343 (W. 97))).

28

The South West Wales Corporate Joint Committee (established by the South West Wales Corporate Joint Committee Regulations 2021 (S.I. 2021/352 (W. 104))).