Contributions to the Fund. The Admission Body shall pay to the Fund in relation to the Members: 6.1.1 the initial amount calculated by the Actuary at the commencement of this Agreement for inclusion with its rates and adjustments certificate issued by the Actuary, which is 00.0% ([closed] [open] contribution rate ) as per the actuary’s Schedule of Results dated DD MONTH 20**. This will be payable monthly in arrears no later than the date specified by the Administering Authority or in accordance with any other terms of the rates and adjustments certificate; 6.1.2 following each triennial valuation of the Fund the amount calculated by the Actuary and set out in the rates and adjustments certificate accompanying the formal valuation report. This will be payable monthly in arrears no later than the date specified by the Administering Authority or in accordance with any other terms of the rates and adjustments certificate; 6.1.3 all amounts from time to time deducted from the pay of the Members under the Regulations. These will be payable monthly in arrears no later than the date specified by the Administering Authority and in any event no later than the time required under section 49(8) of the Pensions Xxx 0000; 6.1.4 any amount received by the Admission Body by deduction or otherwise under Regulations 11, 12, 16 or 17 of the Regulations; 6.1.5 any appropriate sum or any extra charge payable under Clauses 5.3.1 and 5.3.2 respectively (Additional Pension); 6.1.6 any extra charge required by the Administering Authority to cover the actuarial strain on the Fund (as notified by the Actuary in writing) as a result of the immediate payment of benefits when: 6.1.6.1 a Member who is an active member of the Scheme has his employment terminated on the grounds that ill-health or infirmity of mind or body renders him permanently incapable of discharging efficiently the duties of his current employment; or 6.1.6.2 a Member who has left his employment before he is entitled to the immediate payment of retirement benefits receives payment of his benefits immediately on grounds that ill- health or infirmity of mind or body renders him permanently incapable of discharging efficiently the duties of that employment, such sum to be paid to the Fund within 10 Business Days of receipt by the Admission Body of written notification of the sum from the Administering Authority (or within such other period and on such terms as the Administering Authority and the Admission Body may agree), but only to the extent that the strain is not met through the Admission Body’s employer contribution rate; 6.1.7 any extra charge required by the Administering Authority to cover the actuarial strain on the Fund (calculated in accordance with guidance from the Fund actuary) as a result of: 6.1.7.1 the immediate payment of benefits when the Admission Body dismisses a Member by reason of redundancy or decides on the grounds of business efficiency that it is in their interest that a Member should leave their employment; 6.1.7.2 the immediate payment of benefits with the Admission Body’s consent under Regulation 30(6) of the Regulations (flexible retirement) including the costs of the Admission Body waiving any reduction of benefits under that Regulation; or 6.1.7.3 the immediate payment of benefits under Regulation 30(5) of the Regulations (voluntary early retirement) where the Admission Body has consented to waive reductions under Regulation 30(8) of the Regulations, or earlier corresponding regulations. 6.1.7.4 The immediate payment of benefits under Regulation 30(5) where the Admission Body has consented to allow the “rule of 85” to apply in accordance with Paragraph 1(3) of Schedule 2 to the Transitional Regulations. such sum to be paid to the Fund within 10 Business Days of receipt by the Admission Body of written notification of the sum from the Administering Authority (or within such other period and on such terms as the Administering Authority and the Admission Body may agree); 6.1.8 any revised contribution(s) due under Clause 6.4.2 (Adjustment of Contribution Rate), such sum(s) to be paid to the Fund within 10 Business Days of receipt by the Admission Body of the revised rates and adjustments certificate (or within such other period and on such terms as the Administering Authority and the Admission Body may agree); 6.1.9 any termination contribution(s) due under Clause 0 (Termination Valuation), such sum(s) to be paid to the Fund within 10 Business Days of receipt by the Admission Body of written notification of the sum(s) from the Administering Authority (or within such other period and on such terms as the Administering Authority and the Admission Body may agree); 6.1.10 any contribution (other than that required under Clause 6.1.1 (Contributions to the Fund)) required by the Administering Authority towards the cost of the Fund’s administration relating to the Admission Body including (without limitation) an amount specified in a notice given by the Administering Authority under Regulation 70 of the Regulations and the costs of any reports and advice requested by the Admission Body from the Actuary or required in respect of the Admission Body’s application to became an Admission Body; 6.1.11 any interest payable under the Regulations; and 6.1.12 any other payments or contributions required by the Regulations or by any other legislation.
Appears in 2 contracts
Samples: Admission Agreement, Admission Agreement
Contributions to the Fund. The Admission Body shall pay to the Fund in relation to the Members:
6.1.1 the initial amount calculated by the Actuary at the commencement of this Agreement for inclusion in accordance with its rates and adjustments certificate issued by the Actuary, which is 00.0% ([closed] [open] contribution rate ) as per the actuary’s Schedule of Results dated DD MONTH 20**. This will be payable monthly in arrears no later than the date specified by the Administering Authority or in accordance with any other terms of the rates and adjustments certificate;
6.1.2 following each triennial valuation of the Fund the amount calculated by the Actuary and set out in the rates and adjustments certificate accompanying the formal valuation report. This will be payable monthly in arrears no later than the date specified by the Administering Authority or in accordance with any other terms of the rates and adjustments certificate;
6.1.3 all amounts from time to time deducted from the pay of the Members under the Regulations. These will be payable monthly in arrears no later than the date specified by the Administering Authority and in any event no later than the time required under section 49(8) of the Pensions Xxx 0000Act 1995;
6.1.4 6.1.3 any amount received by the Admission Body by deduction or otherwise under Regulations 11, regulations 12, 13, 14, 16 or and 17 of the 2013 Regulations;
6.1.5 6.1.4 any appropriate sum or any extra charge payable under Clauses 5.3.1 5.3.1.2 and 5.3.2 respectively (Additional Pension)) respectively;
6.1.6 6.1.5 any extra charge required by the Administering Authority to cover the actuarial strain on the Fund (as notified by the Actuary in writing) as a result of the immediate payment of benefits when:
6.1.6.1 6.1.5.1 a Member who is an active member of the Scheme has his employment with the Admission Body terminated on the grounds that of ill-health or infirmity of mind or body which renders him both permanently incapable of discharging efficiently the duties of his current employment and not immediately capable of undertaking any gainful employment; or
6.1.6.2 6.1.5.2 a Member who has left became a deferred member of the Scheme on leaving his employment before he is entitled to with the immediate payment of retirement benefits Admission Body receives payment of his benefits immediately on grounds that ill- of ill-health or infirmity of mind or body which renders him both permanently incapable of discharging efficiently the duties of that employment, such sum employment and unlikely to be paid to capable of undertaking gainful employment before normal pension age, or for at least three years, whichever is the Fund within 10 Business Days of receipt by the Admission Body of written notification of the sum from the Administering Authority (or within such other period and on such terms as the Administering Authority and the Admission Body may agree), but only to the extent that the strain is not met through the Admission Body’s employer contribution ratesooner;
6.1.7 6.1.6 any extra charge required by the Administering Authority to cover the actuarial strain on the Fund (calculated as notified by the Actuary in accordance with guidance from the Fund actuarywriting) as a result of:
6.1.7.1 6.1.6.1 the immediate payment of benefits when the Admission Body dismisses a Member who is an active member of the Scheme by reason of redundancy or decides business efficiency or where such a Member’s employment is terminated by mutual consent on the grounds of business efficiency that it is in their interest that a Member should leave their employment;efficiency; or
6.1.7.2 6.1.6.2 the immediate payment of benefits under regulation 30(5) of the 2013 Regulations or (with the Admission Body’s consent consent) under Regulation regulation 30(6) of the Regulations (flexible retirement) 2013 Regulations, including in either case the costs of the Admission Body waiving any reduction of benefits under that Regulation; or
6.1.7.3 the immediate payment of benefits under Regulation 30(5) of the Regulations (voluntary early retirement) where the Admission Body has consented to waive reductions under Regulation regulation 30(8) of the 2013 Regulations, or earlier corresponding regulations.
6.1.7.4 The immediate payment of benefits under Regulation 30(5) where the Admission Body has consented to allow the “rule of 85” to apply in accordance with Paragraph 1(3) of Schedule 2 to the Transitional Regulations. such sum to be paid to the Fund within 10 Business Days of receipt by the Admission Body of written notification of the sum from the Administering Authority (or within such other period and on such terms as the Administering Authority and the Admission Body may agree);
6.1.8 6.1.7 any exit payment and/or revised contribution(s) due under Clause 6.4.2 6.5 (Adjustment of Contribution Rate), such sum(s) to be paid to the Fund within 10 Business Days of receipt by the Admission Body of the revised rates and adjustments certificate (or within such other period and on such terms as the Administering Authority and the Admission Body may agree);
6.1.9 6.1.8 any termination contribution(s) due under Clause 0 7.4.2 (Termination Valuation), such sum(s) to be paid to the Fund within 10 Business Days of receipt by the Admission Body of written notification of the sum(s) from the Administering Authority (or within such other period and on such terms as the Administering Authority and the Admission Body may agree);
6.1.10 6.1.9 any contribution (other than that not being one required under Clause 6.1.1 (Contributions to the Fund)) required by the Administering Authority towards the cost of the Fund’s administration relating to the Admission Body Body, including (without limitation) an amount specified in a notice given by the Administering Authority under Regulation regulation 70 of the 2013 Regulations and the costs of any reports and advice requested by the Admission Body from the Actuary or required in respect of the Admission Body’s application to became become an Admission Body;
6.1.11 6.1.10 any interest payable under the Regulations; and
6.1.12 6.1.11 any other payments or contributions required by the Regulations or by any other legislation.
Appears in 1 contract
Samples: Admission Agreement
Contributions to the Fund. The Admission Body shall must pay to the Fund in relation to the Members:
6.1.1 the initial amount calculated by the Actuary at the commencement of this Agreement for inclusion in accordance with its rates and adjustments certificate issued by the Actuary, which is 00.0% ([closed] [open] contribution rate ) as per the actuary’s Schedule of Results dated DD MONTH 20**. This will be payable monthly in arrears no later than the date specified by the Administering Authority or in accordance with any other terms of the rates and adjustments certificate;
6.1.2 following each triennial valuation of the Fund the amount calculated by the Actuary and set out in the rates and adjustments certificate accompanying the formal valuation report. This will be payable monthly in arrears no later than the date specified by the Administering Authority or in accordance with any other terms of the rates and adjustments certificate;
6.1.3 all amounts from time to time deducted from the pay of the Members under the RegulationsRegulations [(including, for the avoidance of doubt, all amounts deducted for any period from the Commencement Date until the date of this Agreement which remain unpaid at the date of this Agreement)18]. These will be payable monthly in arrears no later than the date specified by the Administering Authority and in any event no later than the time required under section 49(8) of the Pensions Xxx 0000Act 1995 [(and where amounts deducted for any period from the Commencement Date until the date of this Agreement remain unpaid at the date of this Agreement, such amounts are to be treated for the purposes of section 49(8) as if first deducted on the date of this Agreement)] 19;
6.1.4 6.1.3 any amount received by the Admission Body by deduction or otherwise under Regulations 11, regulations 12, 13, 14, 16 or and 17 of the Regulations2013 Regulations [(including, for the avoidance of doubt, all amounts for any period from the Commencement Date until the date of this Agreement which remain unpaid at the date of this Agreement)20];
6.1.5 6.1.4 any appropriate sum or any extra charge payable under Clauses 5.3.1 5.3.1.2 and 5.3.2 respectively (Additional Pension)pension) respectively;
6.1.6 6.1.5 any extra charge required by the Administering Authority to cover the actuarial strain on the Fund (as notified by the Actuary in writing) as a result of the immediate payment of benefits when:
6.1.6.1 6.1.5.1 a Member who is an active member of the Scheme has his employment with the Admission Body terminated on the grounds that of ill-health or infirmity of mind or body which renders him both permanently incapable of discharging efficiently the duties of his current employment and not immediately capable of undertaking any gainful employment; or
6.1.6.2 6.1.5.2 a Member who has left became a deferred member of the Scheme on leaving his employment before he is entitled to with the immediate payment of retirement benefits Admission Body receives payment of his benefits immediately on grounds that ill- of ill-health or infirmity of mind or body which renders him both permanently incapable of discharging efficiently the duties of that employment, such sum employment and unlikely to be paid to capable of undertaking gainful employment before normal pension age, or for at least three years, whichever is the Fund within 10 Business Days of receipt by the Admission Body of written notification of the sum from the Administering Authority (or within such other period and on such terms as the Administering Authority and the Admission Body may agree), but only to the extent that the strain is not met through the Admission Body’s employer contribution ratesooner;
6.1.7 6.1.6 any extra charge required by the Administering Authority to cover the actuarial strain on the Fund (calculated as notified by the Actuary in accordance with guidance from the Fund actuarywriting) as a result of:
6.1.7.1 6.1.6.1 the immediate payment of benefits when the Admission Body dismisses a Member who is an active member of the Scheme by reason of redundancy or decides business efficiency or where such a Member’s employment is terminated by mutual consent on the grounds of business efficiency that it is in their interest that a Member should leave their employment;efficiency; or
6.1.7.2 6.1.6.2 the immediate payment of benefits under regulation 30(5) of the 2013 Regulations or (with the Admission Body’s consent consent) under Regulation regulation 30(6) of the Regulations (flexible retirement) 2013 Regulations, including in either case the costs of the Admission Body waiving any reduction of benefits under that Regulation; or
6.1.7.3 the immediate payment of benefits under Regulation 30(5) of the Regulations (voluntary early retirement) where the Admission Body has consented to waive reductions under Regulation regulation 30(8) of the 2013 Regulations, or earlier corresponding regulations.
6.1.7.4 The immediate payment of benefits under Regulation 30(5) ; 19 Only applicable where the Admission Body has consented Agreement is, or may be, entered into after the Commencement Date. Strictly, s.49(8) applies only to allow the “rule of 85” to apply in accordance with Paragraph 1(3) of Schedule 2 to the Transitional Regulations. such sum to be paid to the Fund within 10 Business Days of receipt by the Admission Body of written notification of the sum from the Administering Authority (or within such other period and on such terms as the Administering Authority and the Admission Body may agree);
6.1.8 any revised contribution(s) due under Clause 6.4.2 (Adjustment of Contribution Rate), such sum(s) to be paid to the Fund within 10 Business Days of receipt by the Admission Body of the revised rates and adjustments certificate (or within such other period and on such terms as the Administering Authority and the Admission Body may agree);
6.1.9 any termination contribution(s) due under Clause 0 (Termination Valuation), such sum(s) to be paid to the Fund within 10 Business Days of receipt by the Admission Body of written notification of the sum(s) from the Administering Authority (or within such other period and on such terms as the Administering Authority and the Admission Body may agree);
6.1.10 any contribution (other than that required under Clause 6.1.1 (Contributions to the Fund)) required by the Administering Authority towards the cost of the Fund’s administration relating to the Admission Body including (without limitation) an amount specified in a notice given by the Administering Authority under Regulation 70 of the Regulations and the costs of any reports and advice requested by the Admission Body from the Actuary or required deductions made in respect of contributions of an active member, so will not definitely be engaged in a case where the employer makes a deduction prior to the admission becoming effective, even if the agreement is subsequently given retrospective effect. Therefore, this provision provides for the time limit in s.49(8) to apply as if the deductions were made on the date of the Admission Body’s application to became an Admission Body;
6.1.11 any interest payable under the Regulations; and
6.1.12 any other payments or contributions required by the Regulations or by any other legislationAgreement.
Appears in 1 contract
Samples: Admission Agreement
