Northern Ireland Civil Service Pension Scheme Actuarial Valuation as at 31 March 2016

This report sets out the results of the actuarial valuation of the Northern Ireland Civil Service Pension Scheme (collectively classic, premium and classic plus, nuvos and alpha) as at 31 March 2016. The Scheme is an unfunded statutory public service pension scheme with the benefits underwritten by the Government and provides pensions and other benefits to civil servants in Northern Ireland. The Scheme is financed by payments from employers and from those current employees who are members of the Scheme.

However, the operation of the cost control mechanism in relation to the 2016 valuations was paused by a Government announcement on 30 January 2019. Government lifted the pause on 16 July 2020 and announced that as the cost of the "McCloud remedy" will increase the value of schemes to members, this falls into the ‘member cost’ category. As a ‘member cost’, this will be considered as part of the completion of the cost control element of the 2016 valuations process. 

The Final 2016 Cost Control Valuation Report is published on the Northern Ireland Civil Service Pension Scheme Valuations page.