Statutory Instruments
2023 No. 522
Public Service Pensions, England And Wales
The Local Government Pension Scheme (Amendment) (No. 2) Regulations 2023
Made
9th May 2023
Laid before Parliament
11th May 2023
Coming into force
1st June 2023
The Secretary of State makes the following Regulations in exercise of the powers conferred by sections 1(1) and (2)(c), 2, 3(1) to (3), 7, 11(1) and 13 of, and Schedule 2 to, the Public Service Pensions Act 2013( 1 ).
In accordance with section 21 of that Act, the Secretary of State has consulted the representatives of such persons as appear to the Secretary of State likely to be affected by these Regulations.
In accordance with section 3(5) of that Act, these Regulations are made with the consent of the Treasury.
Citation, commencement and extent
1. —(1) These Regulations may be cited as the Local Government Pension Scheme (Amendment) (No. 2) Regulations 2023 and come into force on 1st June 2023.
(2) These Regulations extend to England and Wales.
Amendment of the Local Government Pension Scheme Regulations 2013
2. —(1)The Local Government Pension Scheme Regulations 2013( 2 ) are amended as follows.
(2) In regulation 114(3) (Scheme actuary) for “regulation 62(1)(a) (actuarial valuations of pension funds)” substitute “the Treasury directions” ( 3 ).
(3) In regulation 116 (Scheme advisory board: additional functions)—
(a) in paragraph (1) for “on the dates specified in regulation 62(1)(a) (actuarial valuations of pension funds)” substitute “following an actuarial valuation of the Scheme in accordance with Treasury directions made under section 11 of the Public Service Pensions Act 2013” ;
(b) in paragraph (2)—
(i) for “paragraphs (5) and (6)” substitute “paragraph (5)” ;
(ii) after “back to” insert “or towards” ;
(c) in paragraph (3) after “back to” insert “or towards” ;
(d) in paragraph (4) after “back to”, in each place where it occurs, insert “or towards” ;
(e) omit paragraph (6).
We consent
Andrew Stephenson
Steve Double
Two of the Lords Commissioners of His Majesty’s Treasury
2nd May 2023
Signed by authority of the Secretary of State for Levelling Up, Housing and Communities
Lee Rowley
Parliamentary Under Secretary of State
Department for Levelling Up, Housing and Communities
9th May 2023
2013 c. 25 . Section 2 of, and Schedule 2 to, the Public Service Pensions Act 2013 set out how the powers are exercisable by the Secretary of State. Sections 3,7, and 11 of that Act were amended by the Public Service Pensions and Judicial Offices Act 2022 (c. 7) .
S.I. 2013/2356 ; regulations 114 and 116 inserted by S.I. 2015/57 . There are other amending instruments but none is relevant.
Treasury directions are directions given by the Treasury under section 11 of the Public Service Pensions Act 2013 (see regulation 114(1)).