The Public Service Pensions (Employer Cost Cap & Specified Restricted Scheme) Regulations (NI) 2022
The regulations amend the existing Public Service Pensions (Employer Cost Cap) Regulations (Northern Ireland) 2015) to widen the specified margins of the cost cap mechanism from 2% to 3% in line with the recommendations of the Government Actuary. A technical change is also made for the NI Judicial Pension Scheme 2015.
In line with the requirements of section 12(10) of the Public Service Pensions Act (Northern Ireland) 2014 the Department of Finance consulted with employee representatives in advance of making the regulations and a link to the consultation response is provided below.
The Public Service Pensions (Employer Cost Cap and Specified Restricted Scheme) Regulations (Northern Ireland) 2022