The Local Government Pension Scheme (Amendment) (No. 2) Regulations 2004
These Regulations amend the Local Government Pension Scheme Regulations 1997 (the “principal Regulations”) to have effect from 1st April 2005. The main changes are as follows—to raise the normal retirement date for members who joined the scheme prior to 1st April 1998, to their 65th birthday (regulation 25 of the principal Regulations, as amended by regulation 3);to raise the age at which a member will be entitled to the immediate payment of retirement benefits following redundancy from 50 to 55 (regulation 26 of the principal Regulations, as amended by regulation 4);to raise the age at which a member can elect to receive early payment of their retirement benefits from 50 to 55 and to provide that where an early leaver retires and elects to receive benefits prior to their 65th birthday, those benefits are reduced by the amounts shown as appropriate in guidance issued by the Government Actuary (regulation 31 of the principal Regulations, as amended by regulation 5); andto provide that an administering authority may require an employing authority to make additional payments to the appropriate fund where there is an extra charge on the fund resulting from a pension and retirement grant becoming payable to a member under regulation 26, 31(1) or 31(6) of the principal Regulations (regulation 80 of the principal Regulations, as amended by regulation 9).