- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (10/03/2022)
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Public Service Pensions Act (Northern Ireland) 2014
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Rhagor o Adnoddau
Changes over time for: Section 8
Version Superseded: 01/04/2022
Alternative versions:
- 28/04/2014- Amendment
- 10/03/2022- Amendment
- 10/03/2022
Point in time - 01/04/2022- Amendment
Status:
Point in time view as at 10/03/2022. This version of this provision has been superseded.
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Nodiadau Esboniadol
8.—(1) Scheme regulations may establish a scheme under section 1 as—
(a)a defined benefits scheme,
(b)a defined contributions scheme, or
(c)a scheme of any other description.
(2) A scheme under section 1 which is a defined benefits scheme must be—
(a)a career average revalued earnings scheme, or
(b)a defined benefits scheme of such other description as regulations made by the Department of Finance and Personnel may specify.
(3) Such regulations may not specify a final salary scheme under subsection (2)(b).
(4) A scheme under section 1 is a “career average revalued earnings scheme” if—
(a)the pension payable to or in respect of a person, so far as it is based on the person's pensionable service, is determined by reference to the person's pensionable earnings in each year of pensionable service, and
(b)those earnings, or a proportion of those earnings accrued as a pension, are under the scheme revalued each year until the person leaves pensionable service.
[F1(4A) The extent to which a scheme under section 1 is a career average revalued earnings scheme is not affected by provision contained in scheme regulations that is made under section 78 of PSPJOA 2022 (local government schemes: power to pay final salary benefits).]
(5) Regulations made by the Department of Finance and Personnel under subsection (2)(b) are subject to negative resolution.
Textual Amendments
F1S. 8(4A) inserted (10.3.2022 for specified purposes) by Public Service Pensions and Judicial Offices Act 2022 (c. 7), ss. 94(15), 131(1)(2)(f)
Commencement Information
I1S. 8 in operation at 28.4.2014 by S.R. 2014/123, art. 2(1)(d)
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