Transfer of assets, liabilities and responsibilities3
1
On the merger date all assets and liabilities of the West Midlands Integrated Transport Authority Pension Fund become the assets and liabilities of the pension fund maintained by Wolverhampton.
2
No later than 3 months after the date these Regulations come into force, the Combined Authority and Wolverhampton must publish a statement setting out the assets and liabilities of their respective pension funds immediately before the merger date.
3
On and after the merger date—
a
any payment received by the Combined Authority relating to its function as an administering authority for the West Midlands Integrated Transport Authority Pension Fund before that date, must be paid into the pension fund maintained by Wolverhampton; and
b
any payment due to be made by the Combined Authority relating to its function as an administering authority for the West Midlands Integrated Transport Authority Pension Fund which had not been made before that date, must be paid from the pension fund maintained by Wolverhampton.
4
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 the Combined Authority but which was not decided before the merger date, must be decided by Wolverhampton.
5
Wolverhampton must be substituted for the Combined Authority in any instruments, contracts or legal proceedings which relate to any of the Combined Authority’s functions as an administering authority which were made or commenced before the merger date.
6
Any arrangements under regulation 17 of the 2013 Regulations (additional voluntary contributions) under a scheme administered by the Combined Authority in respect of the West Midlands Integrated Transport Authority Pension Fund continue to have effect as if they had been entered into under a scheme established by Wolverhampton.