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DB Pensions - Northern Ireland

Colinstewart76Colinstewart76 Member
in Technical stuff
Hi all

Hoping the pp community can point me in the right direction with this one. 

We have a deferred member (dol May 1998) of DB pension based in Northern Ireland.  The deferred pension revalues in line with 'Pension Increase (Review) Order (NI)'.  Does anyone know if it is safe to assume this is equivalent to Section 52a orders? Based upon some digging, it looks like it's RPI to Dec 2011 and CPI thereafter - what I can't find is whether there is a cap.

I spoke to a well known TVAS software provider and they don't know.

Thanks
Colin
Outsourced paraplanner at The Paraplanners. 
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Comments

  • benjaminfabibenjaminfabi Moderator
    Hi,

    Here's a decent looking link with some information about the NI Local Government Scheme. I'd say that based on this it isn't capped. I assume that any scheme holding itself out to follow the act you've cited will have the same increases.

    https://www.nilgosc.org.uk/annual-pensions-increase

    Benjamin Fabi 
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  • Colinstewart76Colinstewart76 Member
    Thank you - we do have an immediate retirement quote from the scheme so, with a bit of fiddling on Selectapension I was able to work out that it was almost the same as S52a (there was a small variance in the projected pension vs the immediate quote from the scheme) so that seems to back up your thoughts.  
    Outsourced paraplanner at The Paraplanners. 
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