The Local Government Pension Scheme (Buckinghamshire Structural Changes) (Amendment) Regulations 2020

Publication Date:January 01, 2020
 
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2020No. 123

PUBLIC SERVICE PENSIONS, ENGLAND AND WALES

The Local Government Pension Scheme (Buckinghamshire Structural Changes) (Amendment) Regulations 2020

Made6thFebruary2020

Laid before Parliament11thFebruary2020

Coming into force1stApril2020

The Secretary of State, in exercise of the powers conferred by sections 1, 2(1) and 3 of, and paragraph 3(a) of Schedule 2 and paragraph 11 of Schedule 3 to, the Public Service Pensions Act 2013( 1) and with the consent of the Treasury in accordance with section 3(5) of that Act, makes the following Regulations.

In accordance with section 21 of that Act, the Secretary of State has consulted such persons, and the representatives of such persons, as appeared to the Secretary of State to be likely to be affected by these Regulations.

Citation, commencement and extent

1.—(1) These Regulations may be cited as the Local Government Pension Scheme (Buckinghamshire Structural Changes) (Amendment) Regulations 2020.

(2) These Regulations come into force on 1st April 2020.

(3) These Regulations extend to England and Wales.

Amendment of the Local Government Pension Scheme Regulations 2013

2.—(1) The Local Government Pension Scheme Regulations 2013( 2) are amended in accordance with paragraphs (2), (3) and (4).

(2) In regulation 64 (special circumstances where revised actuarial valuations and certificates must be obtained) after paragraph 10 insert—

“(11) Paragraph (12) applies where the exiting employers are Buckinghamshire County Council, Aylesbury Vale District Council, Chiltern District Council, South Bucks District Council and Wycombe District Council and the liabilities of the fund in respect of benefits due to or in respect of current or former employees (or those of any predecessor authority) of these exiting employers vest in Buckinghamshire Council.

(12) Where this paragraph applies, no exit payment or exit credit is due under paragraph (1) and paragraph (2) does not apply.”.

(3) In Part 1 of Schedule 3 (pension funds) in paragraph 1 at the end add—

“(zb) Buckinghamshire Council.”.

(4) In the table after paragraph 4 in Part 2 of Schedule 3 for the entry relating to an employee of Milton Keynes Council in the second column for “Buckinghamshire County Council” substitute “Buckinghamshire Council”.

We consent to the making of these Regulations

3rd February 2020

Mike Freer

Rebecca Harris

Two of the Lords Commissioners of Her Majesty's Treasury

Signed by authority of the Secretary of State for...

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