The HSC Pension Service has a dedicated Communication Strategy which has been updated to include communication around Pension Reform. A PowerPoint presentation has also been developed on our communication strategy which can be viewed below:
- Communication Strategy 2015
- Pension Reform Dedicated Communication Strategy Presentation
- Overview of 2015 Scheme
The Public Service Pensions Bill for Northern Ireland completed its legislative passage in the Assembly on 4 February 2014. The Bill gives effect to the reform of the Northern Ireland public service pension schemes, including the HSC Scheme, with effect from 1 April 2015.
Reform of the HSC Pension Scheme in 2015
New HSC Pension arrangements are to be introduced from 1 April 2015. Some of the details of the new arrangements are still being worked out but the main features of the new scheme include:
- A Career Average Revalued Earnings (CARE) scheme, with benefits based on a proportion of pensionable earnings during your career
- An accrual rate (i.e. the rate that your pension builds up) of 1/54th of each year’s pensionable earnings with no limit on pensionable service. This is a higher accrual rate than both the 1995 and 2008 sections of the HSC Scheme
- Revaluation of active members’ benefits in line with the Consumer Price Index (CPI) plus 1.5 percent per annum
- A normal pension age at which benefits can be claimed without reduction for early payment linked to the same age as you are entitled to claim your State Pension
- Pensions in payment to increase in line with inflation (currently CPI).
Most existing members of the current HSC Scheme (both the 1995 and 2008 sections) will move to the new scheme on 1 April 2015, however, there are protection provisions for certain members who have reached, or are close to reaching, their current normal pension age.
Any pension rights members have built up in the 1995 Section or 2008 Section of the HSC Pension Scheme prior to moving to the new 2015 Scheme will be protected and will continue to be calculated on final salary at retirement. These benefits are known as preserved rights.
Please click on the links below for further information