The Local Government Pension Scheme (Transitional Provisions) Regulations 2008

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations set out transitional provisions relating to members of the Local Government Pension Scheme 1997 (“the 1997 Scheme”), which is to be replaced by the new Local Government Pension Scheme (“the Scheme”) with effect from 1st April 2008.

Their effect is to protect the benefits accrued by members of the 1997 Scheme before 1^st April 2008, and to protect their rights.

Regulation 2 provides for the revocation, subject to savings, of the Local Government Pension Scheme Regulations 1997 (“the 1997 Regulations”) and of a number of subsequent Regulations that amend the 1997 Regulations or make provision dependent on them, which are set out in Schedule 1. It follows that, after 1st April 2008, no person may become a member of the previous Local Government Pension Scheme, or accrue benefits in it (regulation 2(2)).

Regulations 3 to 5 preserve the membership and benefits accrued in the previous Scheme for active and deferred members and for members in concurrent employment.

Regulation 6 provides for survivor benefits and regulation 7 for limits on death grants for deferred members.

Regulation 8 requires employing authorities to inform certain members of the contribution rates applicable to them, and regulation 9 provides for lower contribution rates in certain cases.

Regulation 10 and Schedule 2 make provision relating to the so-called “85 year rule” about early retirement.

Regulation 11 identifies the appropriate funds for the new Scheme.

Regulation 12 saves provisions about abatement policy contained in the 1997 Regulations, regulation 13 continues in effect the provisions of the 1997 Regulations dealing with councillors and regulation 14 deals with pension sharing on divorce.

A full regulatory impact assessment has not been produced for this instrument as it has no impact on the costs of businesses, charities or voluntary bodies and does not have a significant financial impact on any public bodies.