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The Parliamentary Pensions (Amendment) Regulations 1999
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- 1999 No. 2100
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
These Regulations amend the Parliamentary Pensions (Consolidation and Amendment) Regulations 1993. The effect of the amendments is to–
(1) require one of the managing trustees to be a pensioner member (ie someone already entitled to receive a pension from the fund) and increase the maximum number of managing trustees, by one, to ten,
(2) allow for a managing trustee who leaves the House of Commons to continue in office until removed or replaced,
(3) indemnify the managing trustees, except where they have acted dishonestly, in bad faith or recklessly, and
(4) prohibit the purchase of trustees' indemnity insurance out of the pension fund.
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