Change of local government employment and fund authority
Q2.—(1) Where—
(a)a person who has ceased to be employed in a local government employment (“the previous local government employment”) subsequently becomes employed in some other local government employment ('the new local government employment"), and
(b)in his new local government employment the fund authority (“the new fund authority”) is different from the fund authority (“the previous fund authority”) in his previous local government employment, and
(c)in his new local government employment he is entitled to reckon any reckonable service which he was entitled to reckon in his previous local government employment, and
(d)no direction has been made at any time in relation to his reckonable service in his previous local government employment under regulation M1 (forfeiture of rights) or any corresponding provision of any earlier enactment,
the previous fund authority shall, subject to the following provisions of these regulations, pay out of their superannuation fund to the new fund authority for the credit of their superannuation fund a transfer value calculated in accordance with Part V of Schedule 16.
(2) Subject to paragraphs (3), (4) and (5), if the change of employment occurs as a result of an order or regulations made under the Local Government Act in accordance with section 255 of that Act or an order made under section 84 of the London Government Act 1963(1) and the number of persons changing superannuation funds is more than 9 but less than 100, the transfer values payable under paragraph (1) shall be calculated in accordance with Part I of Schedule 16.
(3) An adjustment shall be made to the total sum payable under paragraph (2) if the assets of the fund of the previous fund authority immediately before any change of employment occurs are not adequate, or are more than adequate, to meet the accrued actuarial liabilities of the fund at that time.
(4) The total shall be adjusted to the extent that the actuaries of the funds concerned consider appropriate in the circumstances.
(5) If any question arises as to the application of paragraphs (3) and (4) or the actuaries are unable to agree on the adjustment to be made, the adjustment (if any) to be made shall be decided by an actuary appointed by the Secretary of State.
(6) If the change of employment occurs as a result of an order or regulations made under the Local Government Act in accordance with section 255 of that Act or an order made under section 84 of the London Government Act 1963 and the number of persons changing superannuation funds is 100 or more—
(a)no payment shall be made under paragraph (1), and
(b)the superannuation fund of the previous fund authority shall be apportioned in accordance with Schedule 19.
(7) “Accrued actuarial liabilities” means the actual and potential liabilities of the fund in connection with any service or employment before the change of employment takes place.