The Local Government Pension Scheme (Amendment) (No. 3) Regulations 2023
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Change 1
11 Commutation payments taken before 1st October 2023
(1) This regulation applies to a person in category A, B or C in respect of whom a lump sum is calculated under regulation 34(1) of the 2013 Regulations (trivial commutation) before 1st October 2023 (“the original payment”). (2) Regulations 4A to 4V of the 2014 Regulations are to be applied to the person and it is to be determined whether they are entitled to a final guarantee amount. (3) The original payment is to be recalculated in accordance with actuarial guidance issued by the Secretary of State. (4) Notwithstanding regulation 34(3) of the 2013 Regulations (member entitled to no further benefits after payment), where the recalculated payment exceeds the original payment, the difference is to be paid to the person without undue delay.
11 Commutation payments taken before 1st October 2023
(1) This regulation applies to a person in category A, B or C in respect of whom a lump sum is calculated under regulation 34(1) of the 2013 Regulations (trivial commutation) before 1st October 2023 (“the original payment”). (2) Regulations 4A to 4V of the 2014 Regulations are to be applied to the person and it is to be determined whether they are entitled to a final guarantee amount. (3) The original payment is to be recalculated in accordance with actuarial guidance issued by the Secretary of State. (4) Notwithstanding regulation 34(3) of the 2013 Regulations (member entitled to no further benefits after payment), where the recalculated payment exceeds the original payment, the difference is to be paid to the person without undue delay.
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