Explanatory note
(This note is not part of the Order)
These Regulations make amendments to the Teachers’ Superannuation Regulations (Northern Ireland) 1998.
Regulation 4 substitutes a new regulation E4(7) which sets out the requirements for entitlement to benefits for those who are retired prematurely by their employer.
Regulations 5 and 6 provide for the actuarial reduction of the retirement pension and retirement lump sum payable in respect of those who are retired prematurely by their employer. The Teachers (Compensation for Redundancy and Premature Retirement) Regulations (Northern Ireland) 2010 (S.R. 2010 No. xxx) make provision for the payment of the balance.
Regulations 7, 8 and 9 make consequential provisions.
Regulation 10 makes a change to Regulation G2(5), to provide for the manner in which notional investment income is to be determined.
Regulation 11 amends Schedule 1 to insert a definition of “compensating authority”.