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Northern Ireland Budget (No. 2) Act 2023

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Changes over time for: DEPARTMENT OF EDUCATION — TEACHERS' SUPERANNUATION ESTIMATE

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Status:

Point in time view as at 18/09/2023.

Changes to legislation:

There are currently no known outstanding effects for the Northern Ireland Budget (No. 2) Act 2023, DEPARTMENT OF EDUCATION — TEACHERS' SUPERANNUATION ESTIMATE. Help about Changes to Legislation

DEPARTMENT OF EDUCATION — TEACHERS' SUPERANNUATION ESTIMATEU.K.

PART 1: AUTHORISED AMOUNTSU.K.

(£)
Departmental expenditure limit
Net resources for current purposes-
Net resources for capital purposes-
Annually managed expenditure
Net resources for current purposes875,541,000
Net resources for capital purposes-
Non-budget expenditure
Net resources for current purposes(2,079,000)
Net resources for capital purposes-
Money
Money requirement149,746,000

PART 2: EXPENDITUREU.K.

Annually managed expenditureU.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: INCOMEU.K.

Annually managed expenditureU.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 incomeU.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.

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