The remedy will be implemented in two stages:
Stage 1: The first stage is focused on the technical amendments that are needed to the Northern Ireland Teachers’ Pension Scheme regulations to comply with the primary legislation introduced within the Public Service Pensions Scheme & Judicial Offices (PSPJO) Bill. The changes being implemented are:
- the final salary (legacy) scheme will close to further accrual on 31 March 2022
- all active members of the Scheme will build up pension benefits within the existing career average (reform) scheme from 1 April 2022.
Stage 2: Schemes will consult separately on changes required to deliver stage two of the remedy. This will include the Deferred Choice Underpin (DCU) that will allow members to choose benefits accrued in the remedy period to be taken as either final salary(legacy) or career average(reform). This consultation will take place in 2022 and further information will be shared when this is available.
The Department of Education has launched Stage 1 of the consultation which can be viewed:
The consultation will run for eight weeks and will close on 13 February 2022.