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The Department of Education, in exercise of the powers conferred on it by Article 11(1)[1], (2), (3A)[2] and Article 14(1) of and paragraphs 1 and 13 of Schedule 3 to the Superannuation (Northern Ireland) Order 1972[3] and of every other power enabling it in that behalf, and after consultation with representatives of education and library boards, and of teachers and with such representatives of other persons likely to be affected as required by Article 11(5) of that Order, and with the consent of the Department of Finance and Personnel[4], hereby makes the following Regulations: Citation, interpretation and commencement 1. These Regulations may be cited as the Teachers' Superannuation (Amendment) Regulations (Northern Ireland) 2005 and shall come into operation on 31st March 2005. Regulations 4, 6 and 10 shall have effect on and from 31st March 2002, and regulations 5 and 7 shall have effect on and from 31st March 2001. 2. In these regulations "the principal regulations" means the Teachers' Superannuation Regulations (Northern Ireland) 1998[5]. Amendment of the principal regulations 3. The principal regulations shall be amended in accordance with regulations 4 to 11. 4. For regulation G1 substitute the following -
G1. - (1) An account in a form approved by the Department of Finance and Personnel is to be prepared by the Department for every financial year starting with the financial year ending with 31st March 2002. (2) The account shall be open to examination by the Comptroller and Auditor General."
5.
In regulation G2 -
(b) after paragraph (4)(a) insert the following new sub-paragraph -
(c) for paragraph (4)(e) substitute the following -
6.
In regulation G3 after sub-paragraph (e) insert the following sub-paragraph -
7.
For regulation G4 substitute the following -
G4. - (1) The Government Actuary shall, from time to time, make an actuarial review on the position in relation to the account as at the date determined by the Department ("the review date"). (1A) In making a determination under paragraph (1) the Department shall secure that -
(b) the review date for each subsequent report is no later than 5 years after the previous review date.
(1B) The Government Actuary, with the agreement of the Department, shall specify the funding methodology to be used in making the actuarial review.
8.
In regulation G5 for paragraph (2) substitute the following -
".
9.
In regulation G6, in paragraph (2)(a), for "monthly in arrear" substitute "monthly in arrears".
(This note is not part of the Regulations) These Regulations amend the Teachers' Superannuation Regulations (Northern Ireland) 1998 ("the 1998 Regulations") and revoke the Teachers' Superannuation (Amendment) Regulations (Northern Ireland) 2003. Regulations 4, 6 and 10 are to have retrospective effect as from 31st March 2002 and regulations 5 and 7 are to have retrospective effect as from 31st March 2001 by virtue of Article 14(1) of the Superannuation (Northern Ireland) Order 1972. Regulations 4 and 10 retrospectively recognise the Department of Finance and Personnel's request that the scheme's accounts move from cash-based to resource-based accounting. Regulation 10 deletes Schedule 12 to the 1998 Regulations. Regulation 5 amends regulation G2. It provides that the closing balance in the teachers' superannuation account for the financial year ending on 31st March 2001 be an amount determined by the Government Actuary by reference to the value of the scheme assets mentioned in regulation G4(6). Regulation 6 amends regulation G3 and provides that increases paid under the Pensions Increases Act (Northern Ireland) 1971 are debited to the teachers' superannuation account. Regulation 7 amends regulation G4 to ensure that the language used is consistent with modern actuarial methods. Reference to the end of the financial year is removed. The insertion of paragraph (1B) requires the Government Actuary, with the agreement of the Department, to specify a funding methodology for each actuarial review, and paragraph (3) provides that the standard contribution rate must be specified in the actuarial review. The insertion of paragraph (1A)(b) specifies that a valuation should be made at no longer than 5 yearly intervals and the amendment to paragraph (5) provides that the scheme assets and scheme liabilities are to be determined using the specified funding methodology. Regulation 8 amends regulation G5 of the 1998 regulations as a consequence of the amendment to regulation G4(9). Regulation 9 corrects a typing error. Notes: [1] As amended by S.I. 1990/1509 (N.I. 13) Article 13(1)back [2] As amended by S.I. 1990/1509 (N.I. 13) Article 6(1)back [3] S.I. 1972/1073 (N.I. 10)back [4] Formerly Department of Finance; see S.I. 1982/338 (N.I. 6) Article 3back [5] S.R. 1998 No. 333 as amended by S.R. 2003 No. 147back [6] 1971 c. 35 (N.I.). Part 1 of the Act has been amended by Article 23(1) of, and paragraphs 8 to 10 of Schedule 6 to the Superannuation (Northern Ireland) Order 1972 (S.I. 1972/1073(N.I. 10)); Articles 5(2) and (3) of the Pensions (Increase) (Northern Ireland) Order 1974 (S.I. 1974/1267 (N.I. 2); Article 74(2) of, and Schedule 6 to the Social Security Pensions (Northern Ireland) Order 1975 (S.I. 1975/1503 (N.I. 15) and Article 2 of the Pensions Increase (Reduction of Qualifying Age) Order 1972 (S.R. & O. (N.I.) 1972 No 264)). See also Articles 69 and 69A of the Social Security Pensions (Northern Ireland) Order 1975/1503 (N.I. 15) which have effect as if they were contained in Part V of that Act. Article 69A was inserted by the Social Security (Northern Ireland) Order 1979 (S.I. 1979/396 (N.I. 5) Article 10(3) Part 1 of the Act has also been amended by the Pensions (Miscellaneous Provisions) (Northern Ireland) Order 1990 (S.I. 1990/1509 (N.I. 13)), S.R. 1977 No. 260, S.I. 1987/2203 (N.I. 22), S.I. 1995/313 (N.I. 22) and S.I. 1999/3147 (N.I. 11)back
ISBN 0 337 96008 9
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