# The Public Service Pensions (Employer Cost Cap and Specified Restricted Scheme) Regulations (Northern Ireland) 2022

S.R. 2022/204 · made 25 August 2022 · revised to 16 September 2022

Regulation 3 of these Regulations amends the Public Service Pensions (Employer Cost Cap) Regulations (Northern Ireland) 2015 to widen the specified margins in which scheme costs must remain, before corrective action is taken to rebalance the costs of the scheme, from 2 percentage points above and below the employer cost cap to 3 percentage points above and below the employer cost cap.

Made under: Public Service Pensions Act (Northern Ireland) 2014 (Section 12, Section 12A)

PDFs: Printed copy https://openlegislation.uk/public-service-pensions-employer-cost-cap-and-specified-restricted-scheme-regulations-northern-ireland-2022/pdf/nisr_20220204_en.pdf; NI Explanatory Memorandum https://openlegislation.uk/public-service-pensions-employer-cost-cap-and-specified-restricted-scheme-regulations-northern-ireland-2022/pdf/nisrem_20220204_en.pdf

## Introductory text

Public Service Pensions
Made 25th August 2022
Coming into operation 16th September 2022
The Department of Finance, in exercise of the powers conferred on it by sections 12(5)(a) and 12A(3)(b) of the Public Service Pensions Act (Northern Ireland) 2014, make the following Regulations.

## 1 Citation and commencement

These Regulations may be cited as the Public Service Pensions (Employer Cost Cap and Specified Restricted Scheme) Regulations (Northern Ireland) 2022 and come into operation on 16th September 2022.

## 2 Interpretation

In these Regulations, the “New Judicial Pension Scheme (Northern Ireland) 2015” means the career average revalued earnings scheme established as a defined benefits scheme for the payment of pensions and other benefits to or in respect of the judiciary by the Judicial Pensions Regulations (Northern Ireland) 2015.

## 3 Amendment of the Public Service Pensions (Employer Cost Cap) Regulations (Northern Ireland) 2015

(1) The Public Service Pensions (Employer Cost Cap) Regulations (Northern Ireland) 2015 are amended as follows.
(2) In regulation 3 (specified margins)—
(a) in paragraph (a), for “2” substitute “3”, and
(b) in paragraph (b), for “2” substitute “3”.

## 4 Specified restricted scheme

For the purposes of section 12A of the Public Service Pensions Act (Northern Ireland) 2014 (restricted schemes), the New Judicial Pension Scheme (Northern Ireland) 2015 is a specified restricted scheme.

## Signature

Sealed with the Official Seal of the Department of Finance on 25th August 2022.
(L.S.)
John Crosby
A senior officer of the
Department of Finance

## Explanatory note

(This note is not part of the Regulations)
Regulation 3 of these Regulations amends the Public Service Pensions (Employer Cost Cap) Regulations (Northern Ireland) 2015 to widen the specified margins in which scheme costs must remain, before corrective action is taken to rebalance the costs of the scheme, from 2 percentage points above and below the employer cost cap to 3 percentage points above and below the employer cost cap.
Regulation 4 of these Regulations provides that the New Judicial Pension Scheme (Northern Ireland) 2015 is specified as a restricted scheme for the purposes of section 12A of the Public Service Pensions Act (Northern Ireland) 2014 (“the Act”). Section 12A of the Act states that where a scheme is a restricted scheme and is specified for the purposes of that section in Department of Finance regulations then, in respect of that scheme, the requirement in section 11(1) (valuations) of the Act is removed and section 12(1) (employer cost cap) of the Act is disapplied, meaning scheme regulations need not provide for actuarial valuations or the setting of an employer cost cap for the purpose of measuring changes in the cost of that scheme.
A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.

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Source: https://www.legislation.gov.uk/nisr/2022/204 (the official version)
Page: https://openlegislation.uk/public-service-pensions-employer-cost-cap-and-specified-restricted-scheme-regulations-northern-ireland-2022
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.