The Local Government Pension Scheme (Amendment) (No. 2) Regulations 2006

Explanatory Note

(This note is not part of the Regulations)

These Regulations make a number of amendments to the Local Government Pension Scheme constituted by the Local Government Pension Scheme Regulations, as amended (“the principal Regulations”). Section 12 of the Superannuation Act 1972 provides that regulations made under section 7 of that Act may have retrospective effect: some of these amendments do have such effect.

Regulation 5, which deals with the commutation of annual pension entitlements, takes effect from 1st April 2006.

Regulations 3, 4, and 6 to 111 make a number of amendments to address changes in the tax regime consequent on the Finance Act 2004. These amendments take effect from 6th April 2006.

Regulation 12 requires employers to have and publish a statement of their policy concerning the exercise of their discretionary functions under regulation 35 of the principal Regulations (Requirements as to time of payment).

Regulations 14 and 16 correct an erroneous cross-reference in an amendment to regulation 122 of the principal Regulations made by the Local Government Pension Scheme (Amendment) Regulations 2006 (S.I. 2006/966).

Regulation 15 provides for the commutation of annual pension entitlement of councillors.

Regulations 17 and 18 make transitional and savings provisions.