1971 c. 56.

Reg. 27(7) inserted (31.3.2023) by The Local Government Pension Scheme (Amendment) Regulations 2023 (S.I. 2023/279), regs. 1(1), 3(4)(b)(iv)

Words in reg. 27(5) substituted (31.3.2023) by The Local Government Pension Scheme (Amendment) Regulations 2023 (S.I. 2023/279), regs. 1(1), 3(4)(a)(i)

Words in reg. 27(5) inserted (31.3.2023) by The Local Government Pension Scheme (Amendment) Regulations 2023 (S.I. 2023/279), regs. 1(1), 3(4)(a)(ii)

Word in reg. 27(6) omitted (31.3.2023) by virtue of The Local Government Pension Scheme (Amendment) Regulations 2023 (S.I. 2023/279), regs. 1(1), 3(4)(b)(i)

Word in reg. 27(6) substituted (31.3.2023) by The Local Government Pension Scheme (Amendment) Regulations 2023 (S.I. 2023/279), regs. 1(1), 3(4)(b)(ii)

Words in reg. 27(6) inserted (31.3.2023) by The Local Government Pension Scheme (Amendment) Regulations 2023 (S.I. 2023/279), regs. 1(1), 3(4)(b)(iii)

http://www.legislation.gov.uk/uksi/2013/2356/regulation/27The Local Government Pension Scheme Regulations 2013texttext/xmlenStatute Law DatabasePUBLIC SERVICE PENSIONS, ENGLAND AND WALES2024-05-20Expert Participation2024-05-07These regulations (“the Regulations”) introduce a new local government pension scheme (“the Scheme”) which is to come into existence on 1st April 2014 and replace the local government pension scheme constituted by the Local Government Pension Scheme (Benefits, Membership and Contributions) Regulations 2007 (S.I. 2007/1166) and the Local Government Pension Scheme (Administration) Regulations 2008 (S.I. 2008/239) (“the 2008 Scheme”). In contrast to the 2008 Scheme which was a final salary pension scheme in which unreduced benefits were payable to members from the age of 65, the Scheme provides for members to accrue pension on a career average revalued earnings basis and for unreduced benefits to be payable from their state pension age.PART 1Membership, contributions and benefitsPension accounts27Flexible retirement pension accounts1

When an active member is entitled to immediate payment of a retirement pension under regulation 30(6) (flexible retirement pensions) in relation to an employment—

a

a flexible retirement pension account must be opened; and

b

the balance in the active member's pension account must be reduced by the amount of accrued pension transferred into the member's flexible retirement account.

2

The flexible retirement pension account must specify—

a

the amount of accrued pension transferred from the active member's pension account;

b

the amount of additional pension (if any) purchased under regulation 17(7)(b)(i) (additional voluntary contributions);

c

the early payment reduction or deferred payment enhancement (if any) and the amount of pension to which that reduction or enhancement is to be applied;

d

the commutation amount (if any);

e

the amount of any pension adjustment; and

f

the amount of pension payable from time to time and the date from which it is to be paid.

3

The amount of accrued pension specified in paragraph (2)(a) must be reduced to take account of the commutation amount.

4

The amount of any pension adjustment not already accounted for under paragraph (2)(a) is, for the purposes of paragraph (2)(e), the aggregate of the amounts calculated in accordance with actuarial guidance issued by the Secretary of State to account for an adjustment as a consequence of a matter specified in regulation 23(6) or 25(5)(a) (adjustments to active member's pension accounts).

5

The balance in the member's flexible retirement pension account at the end of the Scheme year in which the member became entitled to the immediate payment of a retirement pension under regulation 30(6) (flexible retirement) is adjusted on the revaluation date in the following Scheme year by the revaluation adjustment applicable to the Scheme year in which the member became entitled to that retirement pension and takes effect from the start of the Scheme year following the Scheme year in which the member became entitled to that pension, in accordance with actuarial guidance issued by the Secretary of State.

6

The ... balance calculated under paragraph (2) is the opening balance for the following Scheme year and, having applied the revaluation adjustment to the balance in accordance with paragraph (5), thereafter, the balance in the account is adjusted each year by the index rate adjustment from the date that an increase would apply if that balance were a pension in payment to which the Pensions (Increase) Act 1971 applied.

7

 Where an index rate adjustment is due to be made on a revaluation date, any such adjustment must be made immediately after the revaluation adjustment is made.

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<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1971/56">1971 c. 56</ref>
.
</p>
</note>
<note class="commentary F" eId="key-4d8191b1fa092585879e2b14baab4945">
<p>
<ref href="http://www.legislation.gov.uk/id/uksi/2013/2356/regulation/27/7">Reg. 27(7)</ref>
inserted (31.3.2023) by
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279">The Local Government Pension Scheme (Amendment) Regulations 2023 (S.I. 2023/279)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279/regulation/1/1">regs. 1(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279/regulation/3/4/b/iv">3(4)(b)(iv)</ref>
</p>
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<note class="commentary F" eId="key-b9bd722bf2c2ea18871d1372d3b488d4">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/uksi/2013/2356/regulation/27/5">reg. 27(5)</ref>
substituted (31.3.2023) by
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279">The Local Government Pension Scheme (Amendment) Regulations 2023 (S.I. 2023/279)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279/regulation/1/1">regs. 1(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279/regulation/3/4/a/i">3(4)(a)(i)</ref>
</p>
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<note class="commentary F" eId="key-ef9d2dd4e7f3ff29a6f17c716ba8d134">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/uksi/2013/2356/regulation/27/5">reg. 27(5)</ref>
inserted (31.3.2023) by
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279">The Local Government Pension Scheme (Amendment) Regulations 2023 (S.I. 2023/279)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279/regulation/1/1">regs. 1(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279/regulation/3/4/a/ii">3(4)(a)(ii)</ref>
</p>
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<note class="commentary F" eId="key-171aa0f730f8cd4392560da92c9422ac">
<p>
Word in
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omitted (31.3.2023) by virtue of
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279">The Local Government Pension Scheme (Amendment) Regulations 2023 (S.I. 2023/279)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279/regulation/1/1">regs. 1(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279/regulation/3/4/b/i">3(4)(b)(i)</ref>
</p>
</note>
<note class="commentary F" eId="key-0acdf6dc936e6f7268cc909f59ea3b4b">
<p>
Word in
<ref href="http://www.legislation.gov.uk/id/uksi/2013/2356/regulation/27/6">reg. 27(6)</ref>
substituted (31.3.2023) by
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279">The Local Government Pension Scheme (Amendment) Regulations 2023 (S.I. 2023/279)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279/regulation/1/1">regs. 1(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279/regulation/3/4/b/ii">3(4)(b)(ii)</ref>
</p>
</note>
<note class="commentary F" eId="key-7002fcfe6f06ee5d7f29be72e665b15c">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/uksi/2013/2356/regulation/27/6">reg. 27(6)</ref>
inserted (31.3.2023) by
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279">The Local Government Pension Scheme (Amendment) Regulations 2023 (S.I. 2023/279)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279/regulation/1/1">regs. 1(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2023/279/regulation/3/4/b/iii">3(4)(b)(iii)</ref>
</p>
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<ukm:Section xmlns:err="http://www.legislation.gov.uk/namespaces/error" Ref="regulation-68A" URI="http://www.legislation.gov.uk/id/uksi/2013/2356/regulation/68A" err:Ref="Section missing in legislation" Missing="true">reg. 68A</ukm:Section>
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<ukm:AffectingTitle>Enterprise Act 2016</ukm:AffectingTitle>
<ukm:AffectingProvisions>
<ukm:Section Ref="schedule-6" URI="http://www.legislation.gov.uk/id/ukpga/2016/12/schedule/6">Sch. 6 </ukm:Section>
<ukm:Section Ref="schedule-6-paragraph-5-1-b" URI="http://www.legislation.gov.uk/id/ukpga/2016/12/schedule/6/paragraph/5/1/b">para. 5(1)(b)</ukm:Section>
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<ukm:Savings>
<ukm:Section Ref="schedule-6" URI="http://www.legislation.gov.uk/id/ukpga/2016/12/schedule/6">Sch. 6 </ukm:Section>
<ukm:Section Ref="schedule-6-paragraph-5-2" URI="http://www.legislation.gov.uk/id/ukpga/2016/12/schedule/6/paragraph/5/2">para. 5(2)</ukm:Section>
<ukm:Section Ref="schedule-6-paragraph-5-3" URI="http://www.legislation.gov.uk/id/ukpga/2016/12/schedule/6/paragraph/5/3">(3)</ukm:Section>
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<ukm:CommencementAuthority>
<ukm:Section Ref="section-44-4-b" URI="http://www.legislation.gov.uk/id/ukpga/2016/12/section/44/4/b">s. 44(4)(b)</ukm:Section>
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<ukm:InForce Applied="false" Prospective="true" Qualification=""/>
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<ukm:Notes>
<ukm:Note IdURI="http://www.legislation.gov.uk/id/uksi/2013/2356/notes"/>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/uksi/2013/2356/pdfs/uksiem_20132356_en.pdf" Date="2013-09-19" Title="UK Explanatory Memorandum" Size="60259"/>
</ukm:Alternatives>
</ukm:Notes>
<ukm:CorrectionSlips>
<ukm:CorrectionSlip URI="http://www.legislation.gov.uk/uksi/2013/2356/pdfs/uksics_20132356_en.pdf" Date="2014-02-05" Title="Correction Slip" Size="13441"/>
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<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/uksi/2013/2356/pdfs/uksi_20132356_en.pdf" Date="2013-09-19" Size="460663"/>
</ukm:Alternatives>
<ukm:ImpactAssessments>
<ukm:ImpactAssessment URI="http://www.legislation.gov.uk/ukia/2013/144/pdfs/ukia_20130144_en.pdf" Date="2013-09-19" Title="The Local Government Pension Scheme Regulations 2013" Stage="Final" Department="Department for Communities and Local Government" Year="2013" Number="144" Size="68405"/>
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<ukm:Statistics>
<ukm:TotalParagraphs Value="285"/>
<ukm:BodyParagraphs Value="119"/>
<ukm:ScheduleParagraphs Value="166"/>
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<portionBody eId="body" period="#period3">
<part eId="part-1" period="#period2">
<num>
<strong>PART 1</strong>
</num>
<heading>Membership, contributions and benefits</heading>
<chapter eId="part-1-chapter-4" period="#period2">
<heading>Pension accounts</heading>
<hcontainer name="regulation" eId="regulation-27" period="#period1">
<num>27</num>
<heading>Flexible retirement pension accounts</heading>
<paragraph eId="regulation-27-1">
<num>1</num>
<intro>
<p>When an active member is entitled to immediate payment of a retirement pension under regulation 30(6) (flexible retirement pensions) in relation to an employment—</p>
</intro>
<subparagraph eId="regulation-27-1-a">
<num>a</num>
<content>
<p>a flexible retirement pension account must be opened; and</p>
</content>
</subparagraph>
<subparagraph eId="regulation-27-1-b">
<num>b</num>
<content>
<p>the balance in the active member's pension account must be reduced by the amount of accrued pension transferred into the member's flexible retirement account.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="regulation-27-2">
<num>2</num>
<intro>
<p>The flexible retirement pension account must specify—</p>
</intro>
<subparagraph eId="regulation-27-2-a">
<num>a</num>
<content>
<p>the amount of accrued pension transferred from the active member's pension account;</p>
</content>
</subparagraph>
<subparagraph eId="regulation-27-2-b">
<num>b</num>
<content>
<p>the amount of additional pension (if any) purchased under regulation 17(7)(b)(i) (additional voluntary contributions);</p>
</content>
</subparagraph>
<subparagraph eId="regulation-27-2-c">
<num>c</num>
<content>
<p>the early payment reduction or deferred payment enhancement (if any) and the amount of pension to which that reduction or enhancement is to be applied;</p>
</content>
</subparagraph>
<subparagraph eId="regulation-27-2-d">
<num>d</num>
<content>
<p>the commutation amount (if any);</p>
</content>
</subparagraph>
<subparagraph eId="regulation-27-2-e">
<num>e</num>
<content>
<p>the amount of any pension adjustment; and</p>
</content>
</subparagraph>
<subparagraph eId="regulation-27-2-f">
<num>f</num>
<content>
<p>the amount of pension payable from time to time and the date from which it is to be paid.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="regulation-27-3">
<num>3</num>
<content>
<p>The amount of accrued pension specified in paragraph (2)(a) must be reduced to take account of the commutation amount.</p>
</content>
</paragraph>
<paragraph eId="regulation-27-4">
<num>4</num>
<content>
<p>The amount of any pension adjustment not already accounted for under paragraph (2)(a) is, for the purposes of paragraph (2)(e), the aggregate of the amounts calculated in accordance with actuarial guidance issued by the Secretary of State to account for an adjustment as a consequence of a matter specified in regulation 23(6) or 25(5)(a) (adjustments to active member's pension accounts).</p>
</content>
</paragraph>
<paragraph eId="regulation-27-5">
<num>5</num>
<content>
<p>
The balance in the member's flexible retirement pension account at the end of the Scheme year in which the member became entitled to the immediate payment of a retirement pension under regulation 30(6) (flexible retirement) is adjusted
<ins class="substitution key-b9bd722bf2c2ea18871d1372d3b488d4-1686583843393 first last">
<noteRef href="#key-b9bd722bf2c2ea18871d1372d3b488d4" marker="F2" class="commentary attribute F"/>
on the revaluation date in
</ins>
the following Scheme year by the revaluation adjustment applicable to the Scheme year in which the member became entitled to that retirement pension
<ins class="key-ef9d2dd4e7f3ff29a6f17c716ba8d134-1686583878151 first last">
<noteRef href="#key-ef9d2dd4e7f3ff29a6f17c716ba8d134" marker="F3" class="commentary attribute F"/>
and takes effect from the start of the Scheme year following the Scheme year in which the member became entitled to that pension
</ins>
, in accordance with actuarial guidance issued by the Secretary of State.
</p>
</content>
</paragraph>
<paragraph eId="regulation-27-6">
<num>6</num>
<content>
<p>
The
<noteRef href="#key-171aa0f730f8cd4392560da92c9422ac" marker="F4" class="commentary F"/>
... balance calculated under paragraph
<ins class="substitution key-0acdf6dc936e6f7268cc909f59ea3b4b-1686583941864 first last">
<noteRef href="#key-0acdf6dc936e6f7268cc909f59ea3b4b" marker="F5" class="commentary attribute F"/>
(2)
</ins>
is the opening balance for the following Scheme year and,
<ins class="key-7002fcfe6f06ee5d7f29be72e665b15c-1686583975591 first last">
<noteRef href="#key-7002fcfe6f06ee5d7f29be72e665b15c" marker="F6" class="commentary attribute F"/>
having applied the revaluation adjustment to the balance in accordance with paragraph (5),
</ins>
thereafter, the balance in the account is adjusted each year by the index rate adjustment from the date that an increase would apply if that balance were a pension in payment to which the Pensions (Increase) Act 1971
<noteRef href="#c21900201" marker="M1" class="commentary M"/>
applied.
</p>
</content>
</paragraph>
<paragraph eId="regulation-27-7">
<num>
<ins class="key-4d8191b1fa092585879e2b14baab4945-1686583803404 first">
<noteRef href="#key-4d8191b1fa092585879e2b14baab4945" marker="F1" class="commentary attribute F"/>
7
</ins>
</num>
<content>
<p>
 
<ins class="key-4d8191b1fa092585879e2b14baab4945-1686583803404 last">Where an index rate adjustment is due to be made on a revaluation date, any such adjustment must be made immediately after the revaluation adjustment is made.</ins>
</p>
</content>
</paragraph>
</hcontainer>
</chapter>
</part>
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