The Local Government Pension Scheme Regulations 1995

State scheme premiums

L20.—(1) Where a LGPs employer pay a contributions equivalent premium, a transfer premium or a limited revaluation premium under section 55 of the Pension Schemes Act 1993 in respect of any member, they are entitled to recover, or if they are an administering authority to retain, out of the appropriate pension fund—

(a) in the case of a contributions equivalent premium, a sum not exceeding the amount of that premium, less the amount (if any) which they could recover or retain under section 61 of that Act in respect of the premium; and

(b) in the case of a transfer premium or a limited revaluation premium, the amount of the premium.

(2) Where a contributions equivalent premium is refunded under regulation 24(3)(c) of the Occupational Pension Schemes (Contracting-out) Regulations 1984(1), the authority to whom it is refunded shall pay to the appropriate pension fund a sum equal to the amount of the premium.

(1)

S.I. 1984/380.