(This note is not part of the Regulations)
These regulations amend the Local Government Pension Reserve Fund (Scotland) Regulations 2003 (S.S.I. 2003/580) (“the principal regulations”).
The principal regulations require each local authority to set up a fund to record pension scheme deficits and surpluses for which local authorities have responsibility. This fund is separate from the local authority’s general fund, and anything accounted for in this fund will not form part of the local authority’s general fund.
Regulation 2(2) adds two pension schemes to the list of schemes covered by the fund set up under the principal regulations. The relevant schemes have been introduced or amended since the principal regulations came into force and they are not covered by the general provision in the principal regulations at regulation 2(2)(e).