The Pensions Increase (Federated Superannuation System for Universities) (Amendment) Regulations 1975

Statutory Instruments

1975 No. 1383

PENSIONS

The Pensions Increase (Federated Superannuation System for Universities) (Amendment) Regulations 1975

Made

18th August 1975

Laid before Parliament

27th August 1975

Coming into Operation

18th September 1975

The Minister for the Civil Service, in exercise of the powers conferred on him by section 13(2) of the Pensions (Increase) Act 1971 and of all other powers enabling him in that behalf, hereby makes the following Regulations:—

1.  These Regulations may be cited as the Pensions Increase (Federated Superannuation System for Universities) (Amendment) Regulations 1975, and shall come into operation on 18th September 1975.

2.  The Interpretation Act 1889 shall apply for the interpretation of these Regulations as it applies for the interpretation of an Act of Parliament.

3.  The Pensions Increase (Federated Superannuation System for Universities) Regulations 1972(1), as amended(2), shall be further amended, in Regulation 3, by the insertion after paragraph (c) of the following paragraph:—

“(cc) has not elected to relinquish his rights in respect of the policies and other assets held in relation to him for the purpose of an FSSU scheme; and”.

Given under the official seal of the Minister for the Civil Service on 18th August 1975.

L.S.

C.R. Morris

Minister of State

Civil Service Department

EXPLANATORY NOTE

Under section 2 of the Pensions (Increase) Act 1971 (as amended by section 25(1) of the Superannuation Act 1972) the Minister for the Civil Service is required to conduct a review of rates of public service pensions against any rise in the cost of living during the review period. The Order provides for the payment, with effect from 1st December 1975, of the pension increases resulting from the 1975 review and based on the rise in the cost of living during the review period of twelve months ending with 30th June 1975. To qualify for increase a person in receipt of a pension must satisfy one of the qualifying conditions specified in section 3 of the 1971 Act (as amended by section 3(2) and (3) of the Pensions (Increase) Act 1974) or the pension must be a widow's pension.

For pensions (or deferred lump sums) which began on or before 1st July 1974 the increase (26.1 per cent.) is of the percentage by which the cost of living rose during the review period. For pensions (or deferred lump sums) which began in the six months following 1st July 1974, or in the six months following 1st January 1975, the increases (29.3 per cent. and 19.9 per cent. respectively) are of the percentage by which the cost of living at the end of the review period exceeded its mean level during the periods of six months ending 31st July 1974 and 31st January 1975 respectively.

The Order reproduces, in the Schedule, section 1 of the 1971 Act with the effect of the earlier Orders and this Order incorporated in it, so as to indicate the cumulative increases payable under the Act and the annual Orders.

The Order also provides, in article 4, for the payment, as a result of the review, of a supplementary increase of 13.5 per cent. on deferred lump sums which became payable in the six months ending 1st July 1975, but whose beginning date fell before 2nd January 1975. This increase is based, in accordance with section 9(4) of the 1971 Act, on the difference between the mean level of the cost of living during the period of six months ending 1st January 1975 and its mean level in the six months ending 1st July 1975.

(1)

(1972 II, p. 2801).

(2)

S.I. 1974/737 (1974 I, p. 2814).