"Actual Contribution Amount"  

means the contribution set out in a rates and adjustments certificate issued to [Sub-hubco/Project Co] (and/or any relevant Service Provider pursuant to either Regulation 32 or 34 of the LGPS (Administration) Regulations

"Additional Costs"

means an increase in any liability to contribute to the LGPS imposed on Project Co (or any relevant Service Provider) as a consequence of:

(a) the exercise by [Sub-hubco/Project Co]of any discretion under the LGPS Regulations to permit any of the Pensionable Authority Employees to retire before such Pensionable Authority Employees' normal pension age (as defined in regulation 16 of the LGPS (Administration) Regulations);

(b) any augmentation of benefits under the LGPS for any of the Eligible Employees;

(c) any redundancy of any of the Pensionable Authority Employees which gives such employee the right to bring benefits into payment under the LGPS in accordance with regulation 19 of the Local Government Pension Scheme (Benefits, Membership and Contributions) (Scotland) Regulations 2008;

(d) any increases in the pay (as defined in the Local Government Pension Scheme (Benefits, Membership and Contributions) (Scotland) Regulations 2008) of Pensionable Authority Employees in excess of the rate of increases in pay assumed in the actuarial valuation prepared by the actuary in accordance with regulation 32 of the LGPS (Administration) Regulations immediately preceding such actual increases;

(e) any benefits which come into payment pursuant to regulation 20 (ill-health) of the Local Government Pension Scheme (Benefits, Membership and Contributions) (Scotland) Regulations 2008; and

(f) any waiver of the requirement for any of the Pensionable Authority Employees to contribute to the LGPS,

provided always that should any of the events set out in the limbs (a) to (f) above be at the instigation of the Authority then that event shall not constitute an Additional Cost.

"Adjustment Factor"

means any increase or decrease in [Sub-hubco's/Project Co's] (or any relevant Service Provider's) liability to contribute to the LGPS to a maximum increase or decrease over [  ]% of or below [ ]% of Pensionable Authority Employees' pay (as defined in regulation 5 of the Local Government Pension Scheme (Benefits, Membership and Contributions) (Scotland) Regulations 2008

"Administering Authority"

means [  ]

"Admission Agreement"

means an admission agreement entered into in accordance with regulation 5 of the LGPS (Administration) Regulations by the Administering Authority and Project Co or any relevant Service

Provider (as appropriate) and a template for which is set out at Schedule Part [ ] (Admission Agreement)

"Admission Body"

means a transferee admission body for the purposes of regulation 5 of the LGPS (Administration) Regulations]

"Broadly Comparable Scheme"

means the pension scheme or schemes nominated by [Sub-hubco/Project Co] (or any relevant Service Provider) in accordance with paragraph Clause 26.11 (Membership of a Broadly Comparable Scheme for Pensionable Authority Employees)

"Fixed Amount" 

means [  ]% of Pensionable Authority Employees' pay (as defined in regulation 5 of the Local Government Pension Scheme Benefits, Membership and Contributions) (Scotland) Regulations 2008 adjusted in accordance with the Adjustment Factor plus any Additional Costs

"LGPS"

means the Local Government Pension Scheme (Scotland) established pursuant to regulations made in exercise of powers under sections 7 and 12 and Schedule 3 of the Superannuation Act 1972 (as amended from time to time)

"LGPS (Administration) Regulations

means the Local Government Pension Scheme (Administration) (Scotland) Regulations 2008

"LGPS (Compensation) Regulations

means the Local Government (Discretionary Payments and Injury Benefits) (Scotland) Regulations 2008

"LGPS Regulations"

means the LGPS (Administration) Regulations, the LGPS (Compensation) Regulations and the Local Government Pension Scheme (Benefits, Membership and Contributions) (Scotland) Regulations 2008

"Pensionable Authority Employee"

means an Authority Employee who is a member of or is entitled to be a member of the LGPS on or immediately prior to the Relevant Service Transfer Date