The Public Service Pensions (Valuations and Employer Cost Cap) (Amendment) Directions (Northern Ireland) 2019
Date published:
The Public Service Pensions (Valuations and Employer Cost Cap) (Amendment) Directions (NI) 2019 implement a pause in the employer cost cap mechanism for the Northern Ireland public service pension schemes.
Under the Public Service Pensions Act (Northern Ireland) 2014, the Department of Finance has responsibility to deliver directions on actuarial valuations to Northern Ireland departments with responsibility for the public service pension schemes. The Act also provides for an employer cost cap mechanism to ensure that the costs of the pension schemes remain sustainable in future.
On 30 January, the Chief Secretary to the Treasury announced that the employer cost cap mechanism will be paused in light of the potentially significant but uncertain impact of a Court of Appeal judgment concerning elements of the public service pension schemes.
The Public Service Pensions (Valuations and Employer Cost Cap) (Amendment) Directions (NI) 2019 implement a pause in the employer cost cap mechanism for the Northern Ireland public service pension schemes.
The Directions and consultation with the Government Actuary provided below should be read in conjunction with The Public Service Pensions (Valuations and Employer Cost Cap) Directions (Northern Ireland) 2014.
Documents
- The Public Service Pensions (Valuations and Employer Cost Cap) (Amendment) Directions (NI) 2019
- GA Consultation Letter - The Public Service Pensions (Valuations and Employer Cost Cap) (Amendment) Directions (NI) 2019
- GA Consultation Response Document - The Public Service Pensions (Valuations and Employer Cost Cap) (Amendment) Directions (NI) 2019