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The Local Government Pension Scheme Regulations 2013
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Changes to legislation:
The Local Government Pension Scheme Regulations 2013, Section 99 is up to date with all changes known to be in force on or before 24 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to Regulation 99:
- reg. 30(13) inserted by 2016 c. 12 Sch. 6 para. 5(1)(a)
- reg. 68A inserted by 2016 c. 12 Sch. 6 para. 5(1)(b)
Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:
Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):
- reg. 30(13) inserted by 2016 c. 12 Sch. 6 para. 5(1)(a)
- reg. 68A inserted by 2016 c. 12 Sch. 6 para. 5(1)(b)
Calculation of amount of transfer paymentE+W
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Memorandwm Esboniadol
99.—(1) The amount of the transfer payment to be paid under regulation 98 (bulk transfers) is the amount determined by an actuary appointed by the members' appropriate administering authority to be equal to the value at the date those members join the new scheme, of the actual and potential liabilities payable from its fund which have then accrued in respect of the members and the persons who are or may become entitled to benefits under the Scheme through them.
(2) The actuary may make such adjustments as are thought fit in calculating that amount and in particular as respects the period from that date to the date of actual payment of the transfer value.
[F1(2A) The actuary must take into account the member’s provisional assumed benefits and provisional underpin amount, calculated in relation to the member in accordance with regulations 4I and 4J of the 2014 Regulations.]
(3) The actuary must specify in the valuation the actuarial assumptions used in making it.
(4) The Scheme employer shall bear the costs of determining the appropriate part of the fund and apportioning the fund.
(5) But if there is more than one Scheme employer involved, each shall bear such part of the costs as the actuary determines to be appropriate.
Textual Amendments
F1Reg. 99(2A) inserted (1.10.2023) by The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023 (S.I. 2023/972), regs. 1(2), 3(17)
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