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

Admission agreements – further provisions N.I.

[F1 6.— (1) An admission agreement with a community admission body or a transferee admission body shall make provision for the relevant matters set out in Schedule 2 (matters to be included in admission agreements with admission bodies).

(2) A person employed by a community admission body or an eligible person employed by a transferee admission body may only be a member if the person, or class of employees to which the person belongs, is designated in the admission agreement by the body as being eligible for membership of the Scheme.

(3) An admission agreement with an admission body shall require that in the case of a body under—

(a) regulation 4, to the satisfaction of the Committee;

(b) regulation 5(2)(a), to the satisfaction of the employing authority; or

(c) regulation 5(2)(b), to the satisfaction of the Committee,

shall carry out an assessment, taking account of actuarial advice, of the level of risk arising on premature termination of the provision of service or assets by reason of insolvency, winding up or liquidation of the admission body.

(4) Subject to paragraph (5), the admission agreement shall further provide that where the level of risk identified by the assessment is such as to require it, an admission body shall enter into an indemnity or bond in an approved form with—

(a) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits or to effect and carry out contracts of general insurance;

(b) an EEA firm of the kind mentioned in paragraph 5(b) and 5(d) of Schedule 3 to that Act, which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to accept deposits or to effect and carry out contracts of general insurance; or

(c) a person who does not require permission under that Act to accept deposits, by way of business, in the United Kingdom.

(5) Where, for any reason it is not possible for an admission body to enter into an indemnity or bond, the admission agreement shall provide that the admission body secures a guarantee in a form satisfactory to the Committee from—

(a) a person or persons who fund the admission body in whole or in part; or

(b) a person who—

(i) owns; or

(ii) controls the exercise of the functions,

of the admission body.

(6) An admission agreement must terminate if the admission body ceases to be such a body and may make such other provision about its termination as the parties consider appropriate.

(7) When the Committee makes an admission agreement, it must promptly inform the Department of—

(a) the date the agreement takes effect;

(b) the admission body’s name; and

(c) in the case of an agreement with a transferee admission body under regulation 5(2)(a) (employees of transferee admission bodies), the name of the relevant employing authority.

(8) The Committee and an admission body may make an admission agreement despite the fact they do not exercise their functions or provide services or assets in areas that overlap or adjoin each other.

(9) Any question which may arise between the parties to an admission agreement relating to the construction of the agreement or the rights and obligations under that agreement shall be referred in writing to the Department for determination.

(10) These Regulations and the Benefits Regulations apply to employment with an admission body in which the employee is an active member in the same way as if the admission body were an employing authority.

(11) A body designated under the provisions of the Local Government (Superannuation) Act (Northern Ireland) 1950 shall be deemed to have an admission agreement under regulation 4 (employees of community admission bodies) for so long as that body continues to employ active members of the Scheme.

(12) In this regulation and Schedule 2 “indemnity or bond in approved form” means an indemnity or bond, payable to the fund, to meet a level of risk exposure arising on insolvency, winding up or liquidation of the admission body, actuarially assessed to the satisfaction of the Committee and employing authority in the case of a transferee admission body under regulation 5 (employees of transferee admission bodies).]

Textual Amendments

F1 Reg. 6 substituted (8.4.2013) by Local Government Pension Scheme (Amendment) Regulations (Northern Ireland) 2013 (S.R. 2013/71), regs. 1(1), 14 (with reg. 28)