Amendment of the Local Government Pension Scheme (Administration) Regulations (Northern Ireland) 2009

20.  After regulation 45B (survivor benefits: guaranteed minimum pension)(1), insert—

“Joint liability in respect of annual allowance charge

45C.— (1) This regulation applies where a member gives the Committee notice of joint and several liability under section 237B (liability of scheme administrator) of the Finance Act 2004(2) in respect of the member’s annual allowance charge.

(2) Where the joint liability amount specified in the notice is met by the fund, the Committee shall reduce the value of the member’s rights accrued under the Scheme and the former Regulations (if applicable), in accordance with guidance issued by the Government Actuary.

(3) In this regulation—

(a) “annual allowance charge” has the meaning given to that expression by section 227 of the Finance Act 2004; and

(b) “the joint liability amount” has the meaning given to that expression by section 237B(3) of the Finance Act 2004.”.

(1)

Regulation 45B was inserted by S.R. 2010 No. 410.

(2)

2004 c.12; section 237B was inserted by Schedule 17 to the Finance Act 2011 (2011 c.11).