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Local Government Pension Scheme (Administration) Regulations (Northern Ireland) 2009

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Special circumstances where revised actuarial valuations and certificates must be obtained

33.—(1) When obtaining a transfer statement under regulation 28(5) (admission agreement funds), the Committee must also obtain from the actuary a rates and adjustments certificate for the admission agreement fund for each remaining year of the period covered by the most recent such certificate for the fund.

(2) Where an admission agreement ceases to have effect, the Committee must obtain—

(a)an actuarial valuation on an appropriate basis determined by the fund’s actuary as agreed with the Committee as at the date on which that agreement ceases to have effect, of the liabilities of the fund in respect of current and former employees of the admission body which is party to that admission agreement (“the outgoing admission body”);

(b)a revision of any rates and adjustments certificate provided under regulation 31(4) (actuarial valuations and certificates), showing the revised contributions due from or surplus due to the outgoing admission body; and

(c)such revised contributions due to the fund or surplus due to the outgoing admission body from the fund will be paid as a lump sum within one month of the date of the rates and adjustments certificate or such longer period as the Committee and the outgoing admission agreement body agree.

(3) Where, for any reason, it is not possible to obtain the revised contributions from the outgoing admission body or from an insurer or any person providing an indemnity or bond on behalf of that body, the Committee may obtain a further revision of any rates and adjustments certificate for the fund, showing—

(a)in the case where that outgoing admission body is a transferee admission body within regulation 5(2)(a) or 5(2)(b) (employees of transferee admission bodies), the revised contributions due from the body which is the employing authority in relation to that outgoing admission body; and

(b)in any other case, the revised contributions due from each employing authority which contributes to the fund.

(4) The Committee may obtain from an actuary a certificate specifying, in the case of an admission body, the percentage or amount by which, in the actuary’s opinion,—

(a)the contribution at the common rate should be adjusted; or

(b)any prior individual adjustment should be increased or reduced,

with a view to providing that the value of the assets of the fund in respect of current and former employees of that admission body is neither materially more nor materially less than the anticipated liabilities of the fund in respect of those employees at the date that the admission agreement is to end.

(5) Paragraph (6) applies where—

(a)the Committee agrees with an employing authority under regulation 35(4) (employer’s payment following decision to increase membership or award additional pension); or

(b)it appears to the Committee that the amount of liabilities arising or likely to arise in respect of members in employment with an employing authority differs from the amount specified in, or likely as a result of, the assumptions stated for that employing authority in the actuary’s report by virtue of regulation 31(1).

(6) The Committee must obtain a revision of the rates and adjustments certificate affected, showing the resulting changes as respects that employing authority.

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