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The Local Government Pension Scheme (Amendment) (No. 2) Regulations 2007
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- 2007 No. 1488
- Explanatory Note
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EXPLANATORY NOTE
(This note is not part of the Order)
Regulations 2 to 15 make amendments to the Local Government Pension Scheme constituted by the Local Government Pension Scheme Regulations 1997, as amended, (“the principal Regulations”). Section 12 of the Superannuation Act 1972 provides that regulations made under section 7 of that Act may have retrospective effect: these amendments do have such effect.
The amendments made by regulations 3 and 4 are minor drafting amendments.
The amendments made by regulations 5 to 12 and 15 are to ensure that the principal Regulations comply with the requirements of the Finance Act 2004 and other legislation regulating registered pension schemes.
The amendment made by regulation 13 increases the maximum period of augmentation of a member’s membership of the Scheme from 6 2/3 years to ten years.
The amendment made by regulation 14 clarifies provisions in connection with the payment of additional voluntary contributions and provides that the maximum a person may elect to pay is 50 per cent of remuneration in that employment or an amount equal to 50 per cent of that remuneration.
Regulation 16 makes two amendments to the Local Government Pension Scheme (Benefits, Membership and Contributions) Regulations 2007.Those Regulations, and regulation 16, come into force on 1st April 2008. The first amendment is to provide for alternative periods as the final pay period, if more favourable, and the second amendment is to remove a requirement for the member to be in whole-time employment.
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