Regulation 2 Establishment of Local Government Pension Reserve Fund

(1)

Every local authority shall establish a fund for the purposes of section 93(2)(d) of the Local Government (Scotland) Act 1973 and section 93(4) of the Local Government Finance Act 1992 and shall pay into or out of such fund deficits and surpluses that arise within pension funds.

(2)

For the purposes of paragraph (1) “pension fund” means a fund or scheme in respect of–

(a)

the Local Government Pension Scheme (Scotland) Regulations 1998^f1;

(b)

the Teachers Superannuation (Scotland) Regulations 1992^f2;

(c)

the Police Pensions Regulations 1987^f3;

(d)

the Firemen’s Pension Scheme Order 1992^f4;

(e)

any other regulations made under the Superannuation Act 1972 which would result in liabilities for that local authority^f5.

Annotations

Footnotes

f1: S.I. 1998/366, as amended by S.I. 1998/1129 and 1999/787 and S.S.I. 2000/199, 2001/23, 2001/460, 2002/311; and as modified for particular purposes by S.I. 1998/364.
f2: S.I. 1992/280, amended by S.I. 1992/1025 and 1597, 1993/490 and 2513, 1994/1715 and 2699, 1995/840 and 1670, 1997/676, 1998/718, 1999/446 and S.S.I. 2000/366, 2001/152 and 291, 2002/288 and 2003/423.
f3: S.I. 1987/257, amended by S.I. 1987/341 and 2215, 1988/1339, 1989/733, 1990/805, 1991/1517, 1992/1343 and 2349, 1994/641, 1995/547, 1996/867, 1997/1429 and 2852, 1998/577, 2001/3649 and S.S.I. 2000/193 and 2001/459.
f4: S.I. 1992/129, amended by S.I. 1997/1829, 2309 and 2851, 1998/1010 and S.S.I. 2001/310.
f5: 1972 c. 11.