LGPS Regulations 2013 - Regulation (paragraph 2(1) of Schedule 2 to the LGPS (Transitional Provisions, Savings and Amendment) Regulations 2014): Waiving of actuarial reduction Explanation policy Employer’s The council will not apply this discretion, unless there are An employer has the discretion, under a number of retirement scenarios, to waive actuarial reductions on compassionate grounds. exceptional circumstances The cost of which would fall upon the employer. The Strategic Leadership Board (SLB) will consider any cases and will decide whether the actuarial reductions is not defined in the regulations should be waived. In all cases the financial position of the n.b. “Compassionate grounds” council must be considered.
LGPS Regulations 2013 - Regulation (paragraph 2(1) of Schedule 2 to the LGPS (Transitional Provisions, Savings and Amendment) Regulations 2014): Waiving of actuarial reduction Explanation Employer’s policy An employer has the discretion, under a number of retirement scenarios, to waive actuarial reductions on compassionate grounds. The cost of which would fall upon the employer. n.b. “Compassionate grounds” is not defined in the regulations The council will not apply this discretion, unless there are exceptional circumstances The Strategic Leadership Board (SLB) will consider any cases and will decide whether the actuarial reductions should be waived. In all cases the financial position of the council must be considered.