The Local Government Pension Scheme (Wandsworth and Richmond Fund Merger) Regulations 2016

Transfer of assets, liabilities and responsibilities

3.—(1) On the merger date all assets and liabilities of the pension fund maintained by Richmond become the assets and liabilities of the pension fund maintained by Wandsworth.

(2) No later than 3 months after the date these Regulations come into force, Wandsworth and Richmond must publish a statement setting out the assets and liabilities of their respective pension funds immediately before the merger date.

(3) After the merger date—

(a) any payment received by Richmond relating to its function as an administering authority before that date, must be paid into the pension fund maintained by Wandsworth; and

(b) any payment due to be made by Richmond relating to its function as an administering authority which had not been made before that date, must be paid from the pension fund maintained by Wandsworth.

(4) Any question concerning the rights or liabilities of any person under the 2013 Regulations or the Earlier Regulations which was decided by Richmond before the merger date is deemed to be a decision of Wandsworth for the purposes of any challenge to a decision.

(5) Any question concerning the rights or liabilities of any person under the 2013 Regulations or the Earlier Regulations which was due to be decided by Richmond but which was not decided before the merger date, must be decided by Wandsworth.

(6) Any admission agreement to which Richmond is a party continues to have effect with Wandsworth substituted for Richmond.

(7) Any arrangements under regulation 17 of the 2013 Regulations (additional voluntary contributions) under a scheme established by Richmond continue to have effect as if they had been entered into under a scheme established by Wandsworth.