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Local Government Pension Scheme Regulations (Northern Ireland) 2002

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Interest

82.—(1) The Committee may require an employing authority from which payment of any amount due under regulation 79, 80 or 81 is overdue by more than ten days to pay interest on that amount.

(2) Interest under paragraph (1) or under regulation 88(1) and (3), 90(5) or 95, must be calculated at one per cent. above base rate on a day to day basis from the due date to the date of payment and compounded with three-monthly rests.

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