# The Local Government Pension Scheme Regulations (Northern Ireland) 2014, Regulation 77: Interest on late payments

Extent: N.I.

(1) The Committee may require any person from whom any payment due under regulations 70 to 76 (employing authority's contributions or payments) is overdue to pay interest on that amount.
(2) The date on which any amount due under regulations 70 (special circumstances where revised actuarial valuations and certificates shall be obtained), 71 (apportionment of liabilities), 73 (contributing body's contributions), 74 (employing authority's further payments), 76 (additional costs arising from employing authority's level of performance) is overdue is 10 days from the date specified by the Committee for payment.
(3) The date on which any amount due under regulation 75 (payment by employing authorities to the Committee) (other than an extra charge payable under regulation 74 and referred to in regulation 75(1)(b)) is overdue is the day after the date when that payment is due.
(4) Interest payable under this regulation shall be calculated at one per cent above base rate on a day to day basis from the due date to the date of payment and compounded with three-monthly rests.

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Source: https://www.legislation.gov.uk/nisr/2014/188/regulation/77 (the official version)
Page: https://openlegislation.uk/local-government-pension-scheme-regulations-northern-ireland-2014/regulation-77
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.