Local Government Pension Scheme—Template Bond in connection with LGPS Admission Agreement
Local Government Pension Scheme—Template Bond in connection with LGPS Admission Agreement

The following Pensions guidance note provides comprehensive and up to date legal information covering:

  • Local Government Pension Scheme—Template Bond in connection with LGPS Admission Agreement
  • Between
  • Background
  • Schedule 1Specimen Payment Notice
  • Schedule 2Specimen Extension Notice

Produced in partnership with Ginevra Gatrell of Gunnercooke LLP

This Agreement is made on [date]

Between

  1. 1

    [ ] of [ ] (the ‘Administering Authority’);

  1. 2

    [ ] of [ ] (the ‘Scheme Employer’);

  1. 3

    [ ] of [ ] (the ‘Admission Body’); and

  1. 4

    [ ] of [ ] (the ‘Guarantor’).

Background

  1. (A)

    The Administering Authority is an administering authority within the meaning of the Regulations. It administers and maintains the Scheme in accordance with the Regulations and has the delegated function of making determinations under section 25(5) of the Public Service Pensions Act 2013 in relation to employees of admission bodies.

  2. (B)

    The Scheme Employer is a Scheme employer within the meaning of the Regulations.

  3. (C)

    The Admission Body is an admission body within the meaning of [ ] of Schedule 2 to the 2013 Regulations and intends to enter into the Admission Agreement.

  4. (D)

    The Guarantor has permission under Part IV of the Financial Services and Markets Act 2000 to accept deposits or to effect and carry out contracts of general insurance and has agreed to enter into this Agreement as a bond in a form acceptable to the Administering Authority [and the Scheme Employer].

NOW IT IS AGREED as follows:

  1. 1

    Interpretation

    1. 1.1

      The following