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Statutory Rules of Northern Ireland |
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You are here: BAILII >> Databases >> Statutory Rules of Northern Ireland >> The Public Service Pensions Revaluation (Earnings) Order (Northern Ireland) 2016 No. 50 URL: http://www.bailii.org/nie/legis/num_reg/2016/nisr_201650_en_1.html |
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Statutory Rules of Northern Ireland
Public Service Pensions
Made
18th February 2016
Coming into operation
1st April 2016
The Department of Finance and Personnel makes the following Order in exercise of the powers conferred by section 9(2) and (3) of the Public Service Pensions Act (Northern Ireland) 2014(1):
1. This Order may be cited as the Public Service Pensions Revaluation (Earnings) Order (Northern Ireland) 2016 and comes into operation on 1st April 2016.
2. For the purposes of section 9(2) of the Public Service Pensions Act (Northern Ireland) 2014 (revaluation), the change in earnings specified in relation to the period beginning on 1st April 2015 and ending on 31st March 2016 is an increase of 2 per cent.
Sealed with the Official Seal of the Department of Finance and Personnel on 18th February 2016.
(L.S.)
Joanne McBurney
A senior officer of the
Department of Finance and Personnel
(This note is not part of the Order)
Section 9 of the Public Service Pensions Act (Northern Ireland) 2014 applies to public service pension schemes established under that Act which require a revaluation of pensionable earnings, or a portion of such earnings accrued as a pension, by reference to a change in prices, earnings or both.
Article 2 of this Order specifies an increase in earnings of 2 per cent in relation to the period of 1st April 2015 to 31st March 2016 inclusive. This figure is based on a measure of the year on year change in average weekly earnings figure to September 2015.
An impact assessment has not been produced for this Order as no significant impact on the cost of business or the voluntary sector is foreseen.
