2023 No. 522
The Local Government Pension Scheme (Amendment) (No. 2) Regulations 2023
Made
Laid before Parliament
Coming into force
The Secretary of State makes the following Regulations in exercise of the powers conferred by sections 1(1) and (2)(c), 2, 3(1) to (3), 7, 11(1) and 13 of, and Schedule 2 to, the Public Service Pensions Act 20131.
In accordance with section 21 of that Act, the Secretary of State has consulted the representatives of such persons as appear to the Secretary of State likely to be affected by these Regulations.
In accordance with section 3(5) of that Act, these Regulations are made with the consent of the Treasury.
Citation, commencement and extent1
1
These Regulations may be cited as the Local Government Pension Scheme (Amendment) (No. 2) Regulations 2023 and come into force on 1st June 2023.
2
These Regulations extend to England and Wales.
Amendment of the Local Government Pension Scheme Regulations 20132
1
The Local Government Pension Scheme Regulations 20132 are amended as follows.
2
In regulation 114(3) (Scheme actuary) for “regulation 62(1)(a) (actuarial valuations of pension funds)” substitute “the Treasury directions”
3.
3
In regulation 116 (Scheme advisory board: additional functions)—
a
in paragraph (1) for “on the dates specified in regulation 62(1)(a) (actuarial valuations of pension funds)” substitute “following an actuarial valuation of the Scheme in accordance with Treasury directions made under section 11 of the Public Service Pensions Act 2013”
;
b
in paragraph (2)—
i
for “paragraphs (5) and (6)” substitute “paragraph (5)”
;
ii
after “back to” insert “or towards”
;
c
in paragraph (3) after “back to” insert “or towards”
;
d
in paragraph (4) after “back to”, in each place where it occurs, insert “or towards”
;
e
omit paragraph (6).
We consent
Signed by authority of the Secretary of State for Levelling Up, Housing and Communities
(This note is not part of the Regulations)