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The Public Service (Civil Servants and Others) Pensions Regulations (Northern Ireland) 2014

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Reduction of benefits where annual allowance charge paid by scheme manager

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174.—(1) This regulation applies where—

(a)a member gives valid notice to the scheme manager of joint and several liability for an annual allowance charge under section 237B(3) of the 2004 Act; and

(b)the scheme manager satisfies the liability specified in the notice.

(2) The amount or value of the benefits payable to or in respect of the member for the tax year to which the notice relates must be reduced by the scheme manager in accordance with paragraph (3).

(3) Subject to paragraph (4), the amount or value of the reduction of benefits—

(a)must fully reflect the amount paid by the scheme manager; and

(b)must be consistent with normal actuarial practice.

(4) Benefits may only be reduced under this regulation to the extent that the reduction would not result in the loss of any part of a guaranteed minimum pension to which a person is entitled under section 10 (earner’s guaranteed minimum) or 13 (minimum pensions for widows and widowers) of the 1993 Act.

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