NICS Pension Scheme Actuarial Valuation as at 31 March 2016
On 30 January 2019, the Government announced a pause on the operation of the cost control mechanism in relation to the 2016 valuations due to uncertainty about scheme costs following the McCloud Court of Appeal Judgment. The pause was implemented in March 2019 by the Department of Finance Directions.
On 16 July 2020, the Government lifted the pause as progress in determining the McCloud remedy meant costs were now more certain. The cost of the remedy would count as a ‘member cost’ in the completion of the 2016 valuations. This was Implemented by Department of Finance Directions in November 2021.
Reports by the Scheme Actuary on the actuarial valuation of the Northern Ireland Civil Service Pension Scheme as at 31 March 2016:
- Unpause Cost Cap Valuation Report
- Unpause Final Assumptions and Data Advice
- Northern Ireland Civil Service Pension Scheme Actuarial Valuation as at 31 March 2016
- Report on Membership Data
- Advice on Assumptions
NICS Pension Scheme Actuarial Valuation as at 31 March 2012
Reports by the Scheme Actuary on the actuarial valuation of the Principal Civil Service Pension Scheme (NI) [PCSPS(NI)] as at 31 March 2012: