The Local Government Pension Scheme Regulations 1995

Revaluation of guaranteed minimum in certain cases

D18.—(1) This regulation applies where—

(a) a person has ceased to be a member; and

(b) the guaranteed minimum in relation to his pension is appropriately secured (within the meaning of section 19 of the Pension Schemes Act 1993).

(2) The earnings factors of such a person shall be determined for the purposes of section 14(2) of that Act—

(a) by reference to the last order under section 21 of the Social Security Pensions Act 1975(1) or section 148 of the Social Security Administration Act 1992(2) to come into force before the end of the tax year in which he ceased to be a member; and

(b) without reference to the last such order to come into force before the end of the final relevant year.

(3) The weekly equivalent mentioned in section 14(2) of the Pension Schemes Act 1993 is to be increased in accordance with any additional requirements for the time being prescribed for the purposes of section 55(5) of that Act (exclusion from liability to pay a limited revaluation premium).

(4) In this regulation “final relevant year” has the meaning given in section 16(5) of that Act.

(1)

1975 c. 60; section 21 was repealed by the Social Security (Consequential Provisions) Act 1992 (c. 6), section 3(1) and Schedule 1.

(2)

1992 c. 5.