EXPLANATORY NOTE

(This note is not part of the Regulations)

Part 2 of these Regulations establishes a scheme, by analogy to the Public Service (Civil Servants and Others) Pensions Regulations 2014 (S.I. 2014/1964) with some amendments and modifications, for the payment of pensions and other benefits to civil servants employed by the Secret Intelligence Service and the Security Service. The scheme so established is a career average earnings scheme.

Part 3 makes provisions relating to valuations and cost control.

Part 4 sets out the terms of the by-analogy scheme.

Part 5 provides for benefits available to extraordinary members.

An impact assessment has not been prepared for this instrument as no impact on the costs of business or the voluntary sector is foreseen.