Citation, commencement and interpretation

1.-(1) These Regulations may be cited as the Local Government Pension Scheme (Wandsworth and Richmond Fund Merger) Regulations 2016.

(2) These Regulations come into force on 26th January 2017 but have effect from 1st October 2016.

(3) In these Regulations-

(a)"the 2013 Regulations" means the Local Government Pension Scheme Regulations 2013(3);

"the Earlier Regulations" has the meaning given by regulation 1(6) of the Local Government Pension Scheme (Transitional Provisions, Savings and Amendment) Regulations 2014(4);

"Richmond" means the London Borough of Richmond upon Thames;

"Wandsworth" means the London Borough of Wandsworth;

"the merger date" means 1st October 2016; and

Modification of the Local Government Pension Scheme Regulations 2013

2.  From the merger date, the 2013 Regulations apply in relation to Wandsworth and Richmond with the following modifications-

(a)in paragraph 1(b) of Part 1 of Schedule 3 (pension funds), the reference to a London borough council does not include a reference to Richmond (which is accordingly no longer an administering authority and is not required to maintain a pension fund for the Scheme);

(b)regulation 103 (changes of administering authority) does not apply in relation to the transfer of assets and liabilities described in regulation 3(1) of these Regulations; and

(c)the table in Part 2 of Schedule 3 (pension funds) applies as if for any person for whom the appropriate administering authority has been or would be Richmond, the appropriate administering authority is Wandsworth.

Transfer of assets, liabilities and responsibilities

3.-(1) On the merger date all assets and liabilities of the pension fund maintained by Richmond become the assets and liabilities of the pension fund maintained by Wandsworth.

(2) No later than 3 months after the date these Regulations come into force, Wandsworth and Richmond must publish a statement setting out the assets and liabilities of their respective pension funds immediately before the merger date.

(3) After the merger date-

(a)any payment received by Richmond relating to its function as an administering authority before that date, must be paid into the pension fund maintained by Wandsworth; and

(b)any payment due to be made by Richmond relating to its function as an administering authority which had not been made before that date, must be paid from the pension fund maintained by Wandsworth.

(4) Any question concerning the rights or liabilities of any person under the 2013 Regulations or the Earlier Regulations which was decided by Richmond before the merger date is deemed to be a decision of Wandsworth for the purposes of any challenge to a decision.

(5) Any question concerning the rights or liabilities of any person under the 2013 Regulations or the Earlier Regulations which was due to be decided by Richmond but which was not decided before the merger date, must be decided by Wandsworth.

(6) Any admission agreement to which Richmond is a party continues to have effect with Wandsworth substituted for Richmond.

(7) Any arrangements under regulation 17 of the 2013 Regulations (additional voluntary contributions) under a scheme established by Richmond continue to have effect as if they had been entered into under a scheme established by Wandsworth.

EXPLANATORY NOTE

(This note is not part of the Regulations)

These regulations provide for the merger of the local government pension funds held by the London Borough of Richmond upon Thames ("Richmond") and the London Borough of Wandsworth ("Wandsworth"). From 1st October 2016 Richmond is no longer required to maintain a fund for the purposes of the Local Government Pension Scheme. All assets and liabilities relating to the fund held by Richmond up to that date are transferred to Wandsworth which becomes the appropriate administering authority for all members of the Scheme for whom the appropriate administering authority was previously Richmond.

Section 3(3) of the Public Service Pensions Act 2013 allows regulations to make retrospective provision.

No impact assessment has been produced for these Regulations because no impact on the private or voluntary sectors is foreseen.