Regulation 10 Inter fund transfers

Where a member’s appropriate fund (which expression has the meaning given in regulation 74 of the Local Government Pension Scheme Regulations 1997) changes by reason of a transfer of employment by virtue of the Greater London Authority Act 1999, regulation 125 of those Regulations (changes of fund) shall apply as if there were inserted after paragraph (3) the following—

“(3A)

Such determination shall be made within twelve months of the date of transfer.

(3B)

In the event that the actuaries appointed for the purpose of agreeing the amount cannot agree within that time, the matter shall be referred immediately after that twelve month period, or earlier if they jointly request it, to an independent actuary appointed by Secretary of State to make the determination.”.