The attached policy screening documents relate to proposals to rectify the cost cap floor breach of 4.9% identified in the provisional valuation results for the Northern Ireland Civil Service Pension Schemes as at 31 March 2016; to address the impact of retrospective pay awards and other arrears payments on employee pension contributions; and to address anomalies requiring adjustments in employee pension contribution thresholds.
The Department of Finance is consulting with all Civil Service Trade Unions on proposals to rectify the cost cap floor breach and employee pension contributions with effect from 1 April 2019 and seeks their views on the proposals set out in the consultation paper available on the Department of Finance website at:
The consultation with Civil Service Trade Unions closes at 5pm on 18 January 2019.
S75 Policy Screening Cost Cap Floor Breach Rectification Nov18