§ Sir B. Rhys Williamsasked the Minister of Housing and Local Government if he will publish details of the method by which pension transfer values are calculated, and transfers effected, for the purpose of protecting the rights of local government officers on change of employment between authorities.
§ Mr. SkeffingtonThe method of calculating transfer values under the local government superannuation scheme is set out in the Local Government Superannuation (Transfer Value) Regulations 1954 (S.I. 1954 No. 1212) as modified by the National Insurance (Modification of Local Government Superannuation Schemes) (No. 2) Regulations 1961 (S.I. 1961 No. 405) and the National Insurance (Modification of Local Government Superannuation Schemes) Regulations 1963 (S.I. 1963 No. 2060). The transfer276W value represents an adjustment between superannuation funds and does not affect the reckonability of the employee's service. The right to reckon earlier contributing service on transfer between local authorities is conferred by Section 13 of the Local Government Superannuation Act, 1937.