http://www.legislation.gov.uk/uksi/2013/2356/schedule/2/part/3/paragraph/7/2014-12-31The Local Government Pension Scheme Regulations 2013texttext/xmlenStatute Law DatabasePUBLIC SERVICE PENSIONS, ENGLAND AND WALES2024-05-16Expert Participation2014-12-31 These 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. SCHEDULESSCHEDULE 2Scheme employersPART 37Notwithstanding paragraph 6, and subject to paragraph 8, the admission agreement must further provide that where the level of risk identified by the assessment is such as to require it, the admission body shall enter into an indemnity or bond in a form approved by the administering authority with—aa person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits or to effect and carry out contracts of general insurance;ba firm in an EEA state of the kind mentioned in paragraph 5(b) and (d) of Schedule 3 to that Act , which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to accept deposits or to effect and carry out contracts of general insurance; orca person who does not require permission under that Act to accept deposits, by way of business, in the United Kingdom.2000 c.8.Paragraph 5(b) of Schedule 3 was amended by S.I. 2006/3221, and paragraph 5(d) of that Schedule was amended by S.I. 2004/3379.There are amendments to paragraphs 12 and 15 of the Schedule which are not relevant to these Regulations.
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<dc:description>These 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.</dc:description>
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<Text>Notwithstanding paragraph 6, and subject to paragraph 8, the admission agreement must further provide that where the level of risk identified by the assessment is such as to require it, the admission body shall enter into an indemnity or bond in a form approved by the administering authority with—</Text>
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.
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