Statutory Instrument 1992 No. 600

The Parliamentary Contributory Pension Fund (Exchequer Contribution) Regulations 1992

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© Crown Copyright 1992

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1992 No. 600

PARLIAMENT

The Parliamentary Contributory Pension Fund (Exchequer Contribution) Regulations 1992

The Leader of the House of Commons, in exercise of the powers conferred on him by section 6(1) of the Ministerial and other Pensions and Salaries Act 1991^[1], with the consent of the Treasury, and after consultation with the trustees of the Parliamentary Contributory Pension Fund and with such persons as appeared to him to represent persons likely to be affected by the Regulations, hereby makes the following Regulations:

Citation and commencement
    1.    These Regulations may be cited as the Parliamentary Contributory Pension Fund (Exchequer Contribution) Regulations 1992 and shall come into force on 1st April 1992, immediately after the coming into force of the Parliamentary Pensions (Amendment) Regulations 1992^[2].

Interpretation
    2.—(1)  In these Regulations—

"the 1987 Act" means the Parliamentary and other Pensions Act 1987^[3]

    (2)  Expressions used in these Regulations have the meaning which they bear in the 1987 Act.

Exchequer contribution to the Fund
    3.—(1)  The amount of the Exchequer contribution to be paid into the Fund under section 3(1) of the 1987 Act in respect of each financial year during the period referred to in regulation 3(2) shall be 6.8 per cent of the amount of the salaries, attributable to the financial year in question, of the persons described in section 2(2) of the 1987 Act, in respect of which those persons contribute to the Fund in relation to that financial year.

    (2)  The period during which the Exchequer contribution is to be calculated as described in regulation 3(1) is the period from 1 April 1992 until the beginning of the first financial year in respect of which the Government Actuary, in his first report made under section 3(3) of the 1987 Act after the coming into force of these Regulations, recommends the rate at which the Exchequer contribution should be paid into the Fund.

John Macgregor

Leader of the House of Commons

9 March 1992
We consent

Irvine Patnick

Gregory Knight

Two of the Lords Commissioners of Her Majesty's Treasury

9 March 1992

These Regulations set the rate of the Exchequer contribution to the Parliamentary Contributory Pension Fund at 6.8% of the salaries of contributors to the Fund until the beginning of the first financial year in respect of which the Government Actuary, in his first report made under section 3(3) of the Parliamentary and other Pensions Act 1987 after the coming into force of these Regulations, recommends the rate at which the Exchequer contribution should be paid into the Fund.

[1] 1991 c. 5. back

[2] S.I. 1992/599. back

[3] 1987 c. 45. back