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The Local Government Pension Scheme (Amendment) Regulations (Northern Ireland) 2016
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- Rheolau Statudol Gogledd Iwerddon
- 2016 No. 128
- Regulation 19
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Changes to legislation:
There are currently no known outstanding effects for the The Local Government Pension Scheme (Amendment) Regulations (Northern Ireland) 2016, Section 19.
Changes to Legislation
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Amendment of the Principal RegulationsN.I.
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Memorandwm Esboniadol
19. In regulation 70 (special circumstances where revised actuarial valuations and certificates shall be obtained)
(a)in paragraph (10)—
(i)at the end of sub-paragraph (b) for “assumptions).” substitute “assumptions); or”
(ii)after sub-paragraph (b) insert—
“(c)a contributing body has previously ceased to employ active members and no actuarial valuation or rates and adjustments certificate has been obtained by the Committee in accordance with paragraph (12) but where the admission agreement still allows it to employ active members and it once again starts to employ active members.”; and
(b)after paragraph (13) insert—
“(13A) The Committee may determine a nominated calculation date, where it reasonably believes that a contributing body is to cease to employ active members in the near future but the actual calculation date is unknown, and such date will be the calculation date in substitution for the actual date on which the contributing body ceases to employ active members or its admission agreement otherwise ceases to have effect.
(13B) Where paragraph (13A) applies, the Committee—
(a)will assess on or as soon as practicable after the date on which the contributing body actually ceases to employ active members or it admission agreement otherwise ceases to have effect whether it should obtain a further revision of the rates and adjustments certificate under regulation 70(2)(c) as at that date; and
(b)may subsequently ask the fund actuary to revise or withdraw and re-issue the rates adjustments certificate if it considers it reasonable to do so.
(13C) Where a revised rates and adjustments certificate is obtained under paragraph (13B)(a), it will take account of any contributions already received from the contributing body further to the rates and adjustments certificate obtained under paragraph (13A).
(13D) The Committee may, with the approval of the Department, if it thinks necessary to protect the solvency of the fund or prevent liabilities in relation to one contributing body falling onto other contributing bodies, require active members employed by a particular contributing body to cease future accrual with effect from a date specified by the Committee so that the contributing body no longer employs active members.”.
Commencement Information
I1Reg. 19 in operation at 1.4.2016, see reg. 1(1)
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