The Local Government Pension Scheme (Amendment) (No. 2) Regulations 2023

Amendment of the Local Government Pension Scheme Regulations 2013

2.—(1) The Local Government Pension Scheme Regulations 2013(1) are amended as follows.

(2) In regulation 114(3) (Scheme actuary) for “regulation 62(1)(a) (actuarial valuations of pension funds)” substitute “the Treasury directions”(2).

(3) In regulation 116 (Scheme advisory board: additional functions)—

(a) in paragraph (1) for “on the dates specified in regulation 62(1)(a) (actuarial valuations of pension funds)” substitute “following an actuarial valuation of the Scheme in accordance with Treasury directions made under section 11 of the Public Service Pensions Act 2013”;

(b) in paragraph (2)—

(i) for “paragraphs (5) and (6)” substitute “paragraph (5)”;

(ii) after “back to” insert “or towards”;

(c) in paragraph (3) after “back to” insert “or towards”;

(d) in paragraph (4) after “back to”, in each place where it occurs, insert “or towards”;

(e) omit paragraph (6).

(1)

S.I. 2013/2356; regulations 114 and 116 inserted by S.I. 2015/57. There are other amending instruments but none is relevant.

(2)

Treasury directions are directions given by the Treasury under section 11 of the Public Service Pensions Act 2013 (see regulation 114(1)).