The objects of this Bill are to—
(a) continue the existence of the Board of the Local Authorities
Superannuation Fund, re-name it as the Local Authorities
Superannuation Fund and re-define its functions;
(b) re-constitute the Board of the re-named Local Authorities
Superannuation Fund and re-define its functions;
(c) continue the existence of the membership, contributions
and benefits structure under the local authorities
superannuation fund and re-name it as the
Superannuation Scheme;
(d) provide for the establishment of the Occupational
Superannuation Scheme;
(e) continue the existence of the local authorities superannuation
fund, in relation to its property component, and re-name
it as the Superannuation Fund;
(f) provide for the establishment of the Occupational
Superannuation Fund;
(g) provide for the collection of pension contributions;
(h) provide for the payment of benefits;
(i) provide for the actuarial valuation of the Superannuation
Scheme and the Occupational Superannuation Scheme;
(j) repeal and replace the Local Authorities Superannuation
Fund Act,1962; and
(k) provide for matters connected with, or incidental to, the
foregoing.