Common use of Adjustment of contribution rate Clause in Contracts

Adjustment of contribution rate. 6.5.1 Pursuant to regulation 64(1) of the 2013 Regulations and regulation 25A of the Transitional Regulations, but subject to any exercise by the Administering Authority of its power to issue a suspension notice under regulation 64(2A) of the 2013 Regulations, where this Agreement terminates in accordance with Clause 7 (Termination) or the Admission Body no longer employs an active member contributing to the Fund: 6.5.1.1 subject to any outstanding requirements to make payments under Clauses 6.1.4, 6.1.5 and 6.1.6, the parties agree that the assets and liabilities of the Admission Body under this Agreement shall be subsumed within the Fund by the Scheme Employer so that no exit payment will be due from, and no exit credit will be payable to, the Admission Body. Instead, the Administering Authority may obtain a further revision of the Scheme Employer’s rates and adjustments certificate showing the revised contributions (if any) due from the Scheme Employer in respect of such assets and liabilities, and the Scheme Employer will correspondingly be entitled to benefit from any surplus within the Fund relating to those assets and liabilities; and 6.5.1.2 if, pursuant to the 2013 Regulations, the Administering Authority is required to pay an exit credit to the Admission Body, the Admission Body must reimburse that exit credit to the Fund, and the reimbursed amount will be credited to the Scheme Employer.

Adjustment of contribution rate. 6.5.1 Pursuant to regulation 64(16.7.1 Under regulations 64(2), (4) of the 2013 Regulations and regulation 25A of the Transitional Regulations(7), but subject to any exercise by the Administering Authority of is entitled or required in certain circumstances to obtain a revised rates and adjustments certificate in relation to the Admission Body. Where the Administering Authority exercises its power to issue a suspension notice powers under regulation 64(2A) of the 2013 Regulationsthese regulations, where this Agreement terminates in accordance with Clause 7 (Termination) or the Admission Body no longer employs an active member contributing must co- operate with the Administering Authority and the Actuary to enable the Fund:Actuary to provide the revised certificate. 6.5.1.1 subject 6.7.2 Subject to any outstanding requirements to make payments under Clauses 6.1.4, 6.1.5 and 6.1.6, Clause 6.3: 6.7.2.1 the parties agree that the assets and liabilities of the Admission Body under this Agreement shall be subsumed within the Fund by the Scheme Employer so that no exit payment will be due from, and no exit credit will be payable to, the Admission Body. Instead, the Administering Authority may obtain a further revision of the Scheme Employer’s rates and adjustments certificate showing the revised contributions (if any) due from the Scheme Employer in respect of such assets and liabilities, and the Scheme Employer will correspondingly be entitled to benefit from any surplus within the Fund relating to those assets and liabilities; and 6.5.1.2 6.7.2.2 if, pursuant to the 2013 LGPS Regulations, the Administering Authority is required to pay an exit credit to the Admission Body, the Admission Body must reimburse that exit credit to the Fund, and the reimbursed amount will be credited to the Scheme Employer.

Adjustment of contribution rate. 6.5.1 Pursuant to regulation 64(1) of the 2013 Regulations and regulation 25A of the Transitional Regulations, but subject to any exercise by the Administering Authority of its power to issue a suspension notice under regulation 64(2A) of the 2013 Regulations, where this Agreement terminates in accordance with Clause 7 (Termination) or the Admission Body no longer employs an active member contributing to the Fund: 6.5.1.1 subject to any outstanding requirements to make payments under Clauses 6.1.4, 6.1.5 and 6.1.6, the parties agree that the assets and liabilities of the Admission Body under this Agreement shall be subsumed within the Fund by the Scheme Employer so that no exit payment will be due from, and no exit credit will be payable to, the Admission Body. Instead, the Administering Authority may [may][will] obtain a further revision of the Scheme Employer’s rates and adjustments certificate showing the revised contributions (if any) due from the Scheme Employer in respect of such assets and liabilities, and the Scheme Employer will correspondingly be entitled to benefit from any surplus within the Fund relating to those assets and liabilities; and 6.5.1.2 if, pursuant to the 2013 Regulations, the Administering Authority is required to pay an exit credit to the Admission Body, the Admission Body must reimburse that exit credit to the Fund, and the reimbursed amount will be credited to the Scheme Employer.