Explanatory note

These regulations amend the Teachers’ Superannuation (Additional Voluntary Contributions) Regulations (Northern Ireland) 1996 (“the 1996 Regulations”) to permit members of the Teachers’ Pension Scheme 2015 access to the additional voluntary contributions scheme (“the scheme”), to enable members to utilise the additional flexibilities for defined contribution pension schemes provided for in the Pension Schemes Act 2015 and to take account of changes to tax treatment of individuals’ pension funds introduced by the Taxation of Pensions Act 2014.

Regulation 4(a) has retrospective effect from 1st April 2015 and the rest of the Regulations have retrospective effect from 6th April 2015 by virtue of Article 14(1) of the Superannuation (Northern Ireland) Order 1972 and Section 3(3)(b) of the Public Service Pensions Act (Northern Ireland) 2014.

Regulation 4 makes amendments to the interpretation provisions of the 1996 Regulations and inserts a number of new definitions. In particular it provides a definition of “AVC policy age” to fix a person’s normal pension age as at the date of an election under regulation 4 or notice under regulation 10 of the 1996 Regulations.

Regulation 5 inserts new provision as to the date that an election under the 1996 Regulations is deemed to be made.

Regulation 7 amends regulation 5 of the 1996 Regulations to allow life cover to continue after a person reaches AVC policy age and makes other, minor amendments.

Regulation 9 amends regulation 7 of the 1996 Regulations to make new provision for a person to cease to be a contributor to the scheme from 6th April 2015, and updates the existing provision for a person so to cease prior to 6th April 2015.

Regulations 10 and 11 amend regulations 10 and 11 of the 1996 Regulations to broaden the circumstances in which transfers of funds into and out of the scheme may be made, in particular by permitting transfers from and into a qualifying recognised overseas pension scheme.

Regulation 12 makes a number of amendments to regulation 12 of the 1996 Regulations. In particular it permits from 6th April 2015 the purchase of one or more uncrystallised fund pension lump sums from realised funds, and the crystallisation of funds to purchase any of the benefits permitted by the regulation.

Regulation 13 makes a number of amendments to regulation 13A of the 1996 Regulations, in particular by broadening the range of benefits which can be purchased under the regulation.

Regulation 14 amends regulation 15 of the 1996 regulations, in particular to introduce, from 1st October 2015, a requirement that a repayment of contributions by the Department to a person who ceases to be in pensionable service under that regulation may only be made if the person has less than 30 days’ qualifying service.

An impact assessment has not been produced for this instrument as it has no impact on business or civil society organisations. The instrument has a minimal impact on the public sector.