Northern Ireland Budget (No. 2) Act 2023

DEPARTMENT OF EDUCATION — TEACHERS' SUPERANNUATION ESTIMATE U.K.

PART 1: AUTHORISED AMOUNTS U.K.

	(£)
Departmental expenditure limit
Net resources for current purposes	-
Net resources for capital purposes	-
Annually managed expenditure
Net resources for current purposes	875,541,000
Net resources for capital purposes	-
Non-budget expenditure
Net resources for current purposes	(2,079,000)
Net resources for capital purposes	-
Money
Money requirement	149,746,000

PART 2: EXPENDITURE U.K.

Annually managed expenditure U.K.

• Expenditure arising from:

  Pensions, allowances, gratuities etc; certain payments to the Northern Ireland National Insurance Fund; certain payments in respect of premature retirement compensation made to members of the scheme and on behalf of their employers; expenditure on activities that are required as a result of the United Kingdom's exit from the European Union; severance payments; compensation payments; governmental response to the coronavirus COVID-19 pandemic; UK COVID-19 Inquiry activities; other non-cash items.

PART 3: INCOME U.K.

Annually managed expenditure U.K.

• Income arising from:

  Employer and employee contributions; transfers into the Northern Ireland Teachers' Pension Scheme; certain receipts from the state pension scheme; certain payments received from specific government funds set up to facilitate early retirement initiatives.

Non-budget income U.K.

• Income arising from:

  Payments from the Department for the Economy in relation to the added years compensation element paid to teachers and lecturers who retired prematurely from Further Education colleges.