Policy Screening Template - The Public Service Pensions Revaluation Order (Northern Ireland) 2022
Date published:
This policy screening document relates to the Public Service Pensions Revaluation Order (Northern Ireland) 2022.
Under section 9 of the Public Service Pensions Act (Northern Ireland) 2014 the Department is required to make an annual order to specify the relevant percentage change in the level of prices or earnings to be applied when revaluating career average benefits being accrued by active members of the devolved public service pension schemes. The measure used to track change in prices is the consumer Prices Index (CPI). The measure used to track change in earnings is the ‘Whole Economy’ figure for the annual change in Average Weekly Earnings (AWE) published by ONS (Office of National Statistics).