Regulation L15 Extra charges resulting from early retirement of chief officers

(1)

Subject to paragraph (5), where a person has become entitled to benefits under regulation E2(1)(b)(iii) and (3)(c) of the 1974 regulations—

(a)

the new authority shall in respect of any resulting extra charge on the relevant fund make a payment in accordance with paragraph (2) to the authority administering the relevant fund, and

(b)

that administering authority shall carry the payment to that fund.

(2)

The payment to be made under paragraph (1)(a)—

(a)

is a payment of an amount to be determined by the relevant fund’s actuary as at—

(i)

the person’s NRD, or

(ii)

if sooner, his date of death, and

(b)

becomes due three months after the new authority have been notified of the amount determined by the actuary.

(3)

If all or part of any sum due under this regulation remains unpaid at the end of the period of one month after the date on which it becomes due, the authority administering the relevant fund may require the new authority to pay interest, calculated and compounded as mentioned in regulation L12(4).

(4)

Paragraphs (1) to (3) do not apply—

(a)

while there is in force any agreement made before 6th January 1986 between the new authority and the authority administering the relevant fund as to the making of payments in respect of extra charges of the kind mentioned in paragraph (1), or

(b)

where all payments in respect of a person that were required by such an agreement have been made.

(5)

In this regulation, in relation to a person who has become entitled to benefits—

“the new authority” is the body who are in relation to him the new authority for the purposes—
1. (a)
  
  of the Local Government (Retirement of Chief Officers) Regulations 1973^f1; or
2. (b)
  
  of the Water Authorities (Retirement of Chief Officers) Regulations 1974^f2; and
“the relevant fund” means the pension fund out of which the benefits are payable.

Annotations

Footnotes

f1: S.I. 1973/1260.
f2: S.I. 1974/73.