The Local Government Superannuation (Funds etc.) Regulations 1990

Actuary’s certificates

2.—(1) This regulation shall apply to the rate of employer’s contributions for years beginning on or after 1st April 1990.

(2) Regulation P6 of the principal Regulations is amended—

(a)in paragraph (2), by substituting for the words “to ensure its solvency” the words “to ensure that the fund is able to meet 75% of its existing and prospective liabilities”, and

(b)by substituting for paragraph (3) the following—

“(3) An individual adjustment is any percentage or amount by which in the actuary’s opinion contributions at the common rate should in the case of a particular body be increased or reduced—

(a)having regard to existing or prospective liabilities of or benefits accruing to the fund arising from circumstances peculiar to that body; and

(b)so as to ensure that the fund is able to meet its existing and prospective liabilities—

(i)arising from any admission agreement, and

(ii)in respect of any person who is, or when he was last a pensionable employee was, deemed to be in employment with that body by virtue of regulation B2 of the principal Regulations(1).”.

(3) Where an administering authority has before the commencement of this regulation obtained a certificate under regulation P6 of the principal Regulations relating to the 3 years beginning on 1st April 1990 (“the first certificate”)—

(a)the administering authority shall obtain from the actuary a further certificate which complies with regulation P6 as amended by this regulation; and

(b)that further certificate shall have effect for the purposes of the principal Regulations in substitution for the first certificate.

(4) This regulation does not affect regulation P6 as it is applied to the new funds referred to in regulation 2(1)(b) of the Local Government Superannuation (Water) Regulations 1989(2) by regulation 2(12) of and the Schedule to those Regulations.