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The Public Service Pensions Revaluation Order (Northern Ireland) 2021

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Statutory Rules of Northern Ireland

2021 No. 56

Public Service Pensions

The Public Service Pensions Revaluation Order (Northern Ireland) 2021

Made

9th March 2021

Coming into operation

1st April 2021

The Department of Finance makes the following Order in exercise of the powers conferred by section 9(2) and (3) of the Public Service Pensions Act (Northern Ireland) 2014(1):

Citation and commencement

1.  This Order may be cited as the Public Service Pensions Revaluation Order (Northern Ireland) 2021 and comes into operation on 1st April 2021.

Revaluation by reference to change in prices or earnings

2.  For the purposes of section 9(2) of the Public Service Pensions Act (Northern Ireland) 2014 (revaluation), in relation to the period beginning on 1st April 2020 and ending on 31st March 2021—

(a)the change in prices is an increase of 0.5 per cent; and

(b)the change in earnings is an increase of 2.4 per cent.

Sealed with the Official Seal of the Department of Finance on 9th March 2021.

(L.S.)

Grace Nesbitt

A senior officer of the

Department of Finance

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 2020 to 31st March 2021 inclusive, Article 2 of this Order specifies an increase in prices of 0.5 per cent, based on the year on year change in the Consumer Prices Index to September 2020; and an increase in earnings of 2.4 per cent, based on a measure of the year on year change in average weekly earnings to September 2020.

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