Closed consultation A proposal to change the date of the annual revaluation in the Local Government Pension Scheme (Northern Ireland)

Summary

This consultation seeks views on changes to the Local Government Pension Scheme (NI) (LGPS (NI)) to change the annual revaluation date from 1 April to 6 April.

Documents

• A proposal to change the date of the annual revaluation in the Local Government Pension Scheme (Northern Ireland) - Consultation Document Adobe PDF (125 KB)
• A proposal to change the date of the annual revaluation in the Local Government Pension Scheme (Northern Ireland) - Draft Regulations Adobe PDF (212 KB)

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Consultation description

This is to mitigate against the impact of high inflation on the LGPS (NI) revaluation this year and consequent tax liabilities arising as a result. These tax liabilities would arise because the timing of the LGPS revaluation on 1 April is not aligned with HMRC’s process for assessing the annual allowance tax charge. The proposed change would bring this into alignment.

• Draft Local Government Pension Scheme (Amendment) Regulations (Northern Ireland) 2023 - consultation responses

Ways to respond

Consultation closed — responses are no longer being accepted.