Summary
The Department of Education (the Department) published for consultation a draft Statutory Rule titled the Teachers’ Pension Scheme (Amendment) Regulations (Northern Ireland) 2025.
Documents
- NITPS - Member Contribution Yield - Outcome of Consultation
- Draft Regulations – NITPS – Member Contribution Yield Consultation
- Consultation – NITPS – Member Contribution Yield Consultation
- Statement of Consultees – December 2024
- EQ HR Screening NITPS – Member Contribution Yield Consultation
Consultation description
The consultation document provided the background and context, setting out the Department’s proposals to make amendments to the Teachers’ Pension Scheme Regulations (Northern Ireland) 2014. The proposed amendments make a small adjustment to rebalance member contribution tiers for the Northern Ireland Teachers’ Pension Scheme (NITPS) to ensure the required yield of 9.6% is achieved.
Consultation outcome
The Department has concluded that the ‘Option 1’ proposal set out in the consultation document represents the most appropriate way forward in implementing the required adjustment to contribution tier rates to achieve 9.6% yield.
Regulations will be laid in March 2025 and come into force on 01 April 2025.
A notice will be issued in March 2025 to scheme members, employers, and stakeholders, advising of the scheme member salary bands and contribution rates effective from 01 April 2025. The notice will be published in the NITPS section of the Department’s website.
The Department’s response to Consultation is available above.
Important information - Consultation closed — responses are no longer being accepted.
Ways to respond
Consultation closed — responses are no longer being accepted.