- a deferred member who has been an elected member
includes a deferred member who has been a councillor member within the meaning of the Local Government Pension Scheme Regulations 1997;
- a local government pension scheme
means the Scheme or any of the Earlier Schemes;
- agreement date
means the date which falls 120 days after the date on which the administering authorities have been notified in writing of the transfer of employees, or the date the information described in paragraph (2) has been received, whichever is the later;
- connected with
has the same meaning as in section 212(6) of the Local Government and Public Involvement in Health Act 2007.
- deferred employer
means a Scheme employer which enters into a deferred debt agreement with an administering authority;
- deferred guarantee amount
has the meaning given in regulation 4P(3) of the 2014 Regulations.
- Earlier Schemes
has the meaning given in regulation 1(6) of the Local Government Pension Scheme (Transitional Provisions, Savings and Amendment) Regulations 2014.
- elected membership
includes any period of councillor membership within the meaning of the Local Government Pension Scheme Regulations 1997”. 12 Where a deferred member’s former elected membership includes a period of former councillor membership accrued under the Local Government Pension Scheme Regulations 1997, and that former councillor membership falls to be aggregated with elected membership in the Scheme — a that aggregation is to be treated for all purposes as an interfund adjustment under regulation 10(6) of the 2014 Regulations, and must be carried out in accordance with that regulation, and b where both periods of membership are held in the same pension fund, the administering aut
- Eligible member
has the same meaning as in regulation 4A(2) of the 2014 Regulations.
- exit credit
means any amount paid to the exiting employer by the administering authority to meet the excess of assets in the fund relating to that employer over the liabilities specified in paragraph (2). • “exit payment” means the assets required to be paid by the exiting employer over such period of time as the administering authority considers reasonable, to meet the liabilities specified in paragraph (2);
- exit date
means the date on which the employer becomes an exiting employer;
- exit payment
means the assets required to be paid by the exiting employer over such period of time as the administering authority considers reasonable, to meet the liabilities specified in paragraph (2);
- exiting employer
means an employer of any of the descriptions specified in paragraph (1);
- final payment date
means the date that is 12 months after the later of the date on which the former authority has been notified in writing of the transfer of employees and the date the information described in paragraph (2) has been received;
- local government service
means employment with a body specified in Part 1 of Schedule 2.
- member
means a member with qualifying service for a period of two years and does not include a pension credit member.
- payment date
means the date or dates agreed between the former authority and the new authority for the making of the transfer payment to the new authority or the date or dates notified to the former authority in accordance with paragraph (7) where agreement cannot be reached;
- period
means such interval as used by the Scheme employer for the calculation and payment of contributions to the salary sacrifice SCAVC arrangement.”
- permitted assets
means liquid, transferable holdings of pooled vehicles which track market capitalisation weighted indices;
- probation trust
means a probation trust established under section 5 of the Offender Management Act 2007.
- publish
includes publish on the internet;
- related employer
means any Scheme employer or other such contracting body which is a party to the admission agreement (other than an administering authority in its role as an administering authority).
- relevant allowance
means an allowance payable under a Combined Authority establishment order or Combined County Authority establishment regulations other than an allowance for travel and subsistence. 4 Where an elected member participates in a salary-sacrifice SCAVC arrangement within the meaning of regulation 17(1), the amounts referred to in paragraph (1) are to be calculated by reference to the remuneration that would have been payable but for that arrangement.”
- survivor guarantee amount
has the meaning given in regulation 4O(3) of the 2014 Regulations.
- the appropriate increase
means the amount (where it is greater than zero) by which the figures would be increased with effect from the first Monday falling on or after 6thApril of the relevant year if they were pensions beginning on 1st April 2014 to which the Pensions (Increase) Act 1971 applied.
- the overall cost of the Scheme
means the total cost as calculated by the Scheme actuary as part of a Scheme cost assessment making use of the data provided under regulation 114(4) (Scheme actuary) according to such methodology and assumptions as are determined by the Board;
- the target proportion
means Scheme employers meeting two-thirds and members meeting one-third of the overall cost of the Scheme.
- transfer date
means the date on which the new pension fund becomes the member’s appropriate fund;
- transfer payment
means a transfer of cash in British pounds sterling or permitted assets equal in value to the transfer share;
- transfer share
means the value of the assets allocated to the actual and potential liabilities payable from the pension fund of a former authority in respect of the benefits that have accrued to or in respect of transferring members as at the transfer date (whether that accrual arose before the commencement of these Regulations or afterwards), adjusted to the relevant payment date, calculated in accordance with actuarial guidance issued by the Secretary of State;
- transferring members
means the employees and former employees (and those entitled through them, including pension credit members) of a probation trust (or its predecessor local probation boards or probation committees) who are the subject of the changes of Scheme employer and appropriate administering authority referred to in paragraph (1) and any persons specified in accordance with regulation 3A(5)(d) or (e) (civil servants etc engaged in probation provision) as a person to whom regulation 3A(5) applies;
- under the control
has the same meaning as in section 68 or, as the case may be, 73 of the Local Government and Housing Act 1989 (except that any direction given by the Secretary of State must be disregarded, and any references to a local authority treated as references to such a body).