S T A T U T O R Y I N S T R U M E N T S

2001 No.

PENSIONS, ENGLAND AND WALES

The Local Government Pension Scheme (Her Majesty’s Chief Inspector of Schools in England) (Transfers) (England) Regulations 2001

The Secretary of State, in exercise of the powers conferred on him by section 7 of the Superannuation Act 1972() 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: -

1. - (1) These Regulations may be cited as the Local Government Pension Scheme (Her Majesty’s Chief Inspector of Schools in England) (Transfers) (England) Regulations 2001 and shall come into force on 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() 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;

"transfer date" means the 31^st August 2001;

"transferring member" means an active member who ceases to be employed by a local authority on the transfer date and on 1^st September 2001 becomes employed by Her Majesty’s Chief Inspector of Schools in England under a scheme made under section 79(3) of The Care Standards Act 2000().

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.

3. -(1) This paragraph applies where-

(a) the active membership of a transferring member ends on his joining the PCSPS following the transfer of his employment under a scheme made under section 79(3) of The Care Standards Act 2000; and

(b) the transferring member agrees in writing [by 31^st March 2002] that a payment should be made under this regulation instead of any payment which he otherwise might require to be made under Chapter IV of Part IV of the Pension Schemes Act 1993 and waives any rights he might have under that Chapter by virtue of the cessation of his active membership.

(2) The transfer payment shall be such amount as is determined in accordance with the Schedule.

(3) The transferring member’s appropriate administering authority must provide each transferring member [by 31^st December 2001] with sufficient information in writing for the member to check that the rights that he will acquire under the PCSPS 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).

(4) 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.

(5) The appropriate administering authority must certify to the managers of the PCSPS the amount included in the transfer payment which represents each 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.

4. -(1) This paragraph applies where a transferring member remains in the Scheme but, as a result of the transfer of his employment to Her Majesty’s Chief Inspector of Schools in England, his appropriate administering authority changes.

(2) Where paragraph (1) applies, the authority which 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

Minister of State

Department of the Environment, Transport and the Regions

2001

SCHEDULE (Regulations 3 and 4)

The amount referred to in regulations 3(2) and 4(2) shall be -

AV multiplied by A

where-

AV is the actuarial value as at the transfer date of the accrued rights to benefits under the Scheme of the transferring member 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 the transfer date to age 60 for the person in question. For any transferring member over the age of 60 on the transfer date, A will be 1.