The Local Government Pension Scheme (Scotland) Regulations 2014
These Regulations (“the Regulations”) introduce a new local government pension scheme (“the Scheme”) which is to come into existence on 1st April 2015 and replace the local government pension scheme constituted by the Local Government Pension Scheme (Benefits, Membership and Contributions) (Scotland) Regulations 2008 (S.S.I. 2008/230) and the Local Government Pension Scheme (Administration) (Scotland) Regulations 2008 (S.S.I. 2008/228) (“the 2008 Scheme”). In contrast to the 2008 Scheme which was a final salary pension scheme in which unreduced benefits were payable to members from the age of 65, the Scheme provides for members to accrue pension on a career average revalued earnings basis and for unreduced benefits to be payable from their state pension age.