STATUTORY INSTRUMENTS
2001 No. 2866
PENSIONS, ENGLAND AND WALES
The Local Government Pension Scheme (Her Majesty's Chief Inspector of
Schools in England) (Transfers) Regulations 2001
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Made |
7th August 2001 |
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Laid before Parliament |
10th August 2001 |
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Coming into force |
31st August 2001 |
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The Secretary of State, in exercise of the powers conferred on him by section 7 of the
Superannuation Act 1972[1] and of all other powers
enabling him in that behalf, after consultation with such associations of local
authorities as appeared to him to be concerned, the local authorities with whom
consultation appeared to him to be desirable and such representatives of other persons
likely to be affected by the Regulations as appeared to him to be appropriate, hereby
makes the following Regulations: -
Citation, commencement and interpretation
1. - (1) These Regulations may be
cited as the Local Government Pension Scheme (Her Majesty's Chief Inspector of Schools in
England) (Transfers) Regulations 2001 and shall come into force on 31st August 2001.
(2) In these Regulations -
"the PCSPS" means the principal civil service pension scheme within the
meaning of section 2(10) of the Superannuation Act 1972;
"the principal Regulations" means the Local Government Pension Scheme
Regulations 1997[2] and, unless the context
otherwise requires, expressions which are also used in the principal Regulations have the
same meaning in these Regulations as they have in those Regulations;
"transferring member" means a person who becomes employed by Her Majesty's
Chief Inspector of Schools in England on or before 1st September 2001 and immediately
prior to such employment was an active member of the Scheme and employed under a contract
of employment with a local authority on work which would have continued but for the
provisions of section 79 of the Care Standards Act 2000[3].
Application of Regulations
2. These Regulations apply in the case
of -
(a) a transfer to which paragraph (1) of regulation 3 applies; and
(b) a transfer to which paragraph (1) of regulation 4 applies.
Her Majesty's Chief Inspector of Schools in England
3. - (1) This paragraph applies
to a transfer where -
(a) the active membership of a transferring member ends on his joining
the PCSPS; and
(b) the transferring member -
(i) agrees in writing by 31st July 2002 31st March 2002 (SI2002/819)
that a transfer be made under this regulation instead of any payment
which he otherwise may require to be made under Chapter IV of Part
IV of the Pension Schemes Act 1993[4],
and
(ii) waives any rights he may have under that Chapter by virtue of
the cessation of his active membership.
(2) Where paragraph (1) applies, the appropriate administering
authority must -
(a) set aside in cash such part of the appropriate fund as equals the
transfer payment, and
(b) pay it to the managers of the PCSPS for the benefit of the transferring
member.
(3) The transfer payment shall be
such amount as is determined in accordance with the Schedule.
(4) The transferring member's appropriate administering
authority must provide the transferring member by 31st March 2002 31st
December 2001 (SI2002/819) with sufficient
information in writing for the member to check whether or not the rights
that he would acquire under the PCSPS as a result of payment of the transfer
payment are at least equivalent to those which he would have obtained
if a transfer value had been paid to the same scheme under Chapter IV
of Part IV of the Pension Schemes Act 1993, as it applies by virtue of
regulation 116 of the principal Regulations, (assuming in any case where
the member would not be entitled to such a payment that he was).
(5) The appropriate administering authority must
certify in writing to the managers of the PCSPS the amount included in
the transfer payment which represents the member's contributions and interest
on them.
(6) Where a transfer payment is to be or has been
made under this regulation, no other payment or transfer of assets shall
be made from the pension fund by reason of membership covered by the transfer
payment.
(7) Paragraph (6) overrides anything to the contrary
in the principal Regulations.
Changes of funds
4. - (1) This paragraph
applies to a transfer where a transferring member remains in the Scheme
but his appropriate administering authority changes as a consequence of
his becoming employed by Her Majesty's Chief Inspector of Schools in England.
(2) Where paragraph (1) applies, the authority
that has ceased to be the member's appropriate administering authority
must make a payment to his new appropriate administering authority of
an amount determined in accordance with the Schedule.
(3) Any payment under paragraph (2) must be credited
to the new appropriate administering authority's fund.
(4) Paragraph (2) overrides anything to the contrary
in regulation 125 of the principal Regulations.
Signed by authority of the Secretary of State
John G. Spellar
Minister of State Department for Transport, Local Government and the Regions
7th August 2001
SCHEDULE(Regulations 3 and 4)
The amount referred to in regulations 3(3) and 4(2) shall be -
where -
AV is the actuarial value as at 31st August 2001 of the transferring member's accrued
rights to benefits under the Scheme calculated in accordance with the method used for the
purposes of calculating a club transfer payment between club schemes, including an
adjustment for market conditions; and
A is an adjustment factor of 1.0125 raised to the power of n, where n is the number of
complete years from 31st August 2001 to age 60 for the member in question. For any
transferring member over the age of 60 on 31st August 2001, A will be 1.
EXPLANATORY NOTE
(This note is not part of the Regulations)
These regulations make provision for the calculation and payment of transfer
payments for active members of the Local Government Pension Scheme who
transfer from local government employment to employment with Her Majesty's
Chief Inspector of Schools in England on or before 1st September 2001
as a consequence of provisions in Part VI of the Care Standards Act 2000
(child minding and day care).
The Local Government Pension Scheme is an occupational pension scheme
established under regulations made under section 7 of the Superannuation
Act 1972.
Regulation 3 makes provision for members who transfer from the Local Government
Pension Scheme to the Principal Civil Service Pension Scheme.
Regulation 4 makes provision for members who transfer from one Local Government
Pension Scheme fund to another.
The Schedule sets out how the transfer payments are to be calculated.
Notes:
[1] 1972 c. 11.back
[2] S.I. 1997/1612, amended by S.I. 1997/1613, 1998/1238, 2118,
1999/1212, 3438, 2000/1005, 1164, 1410, 3025, 2001/770, 1481.back
[3] 2000 c. 14.back
[4] 1993 c. 48.back
ISBN 0 11 029841 1
© Crown copyright 2001
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