EXPLANATORY NOTE
(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 or earnings (or both) in a given period.
In relation to the period 1st April 2017 to 31st March 2018 inclusive, Article 2 of this Order specifies an increase in prices of 3 per cent, based on the year on year change in the Consumer Prices Index to September 2017; and an increase in earnings of 3 per cent, based on a measure of the year on year change in average weekly earnings to September 2017.
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.