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PSPA Consultation

Consultations give Scheme Members and their Representatives an opportunity to have a say on any new proposals from the PSPA to amend public sector pension schemes, so that their views can be taken into account.

From time to time, this page will provide details about current consultations and have links to all documents produced from consultation exercises.

Active Consultations

There are currently no active consultations.

Closed Consultations

Consultation on the Public Sector Pensions Administration (Fees) Order 2024

27 May 2024

The consultation on the Public Sector Pensions Administration (Fees) Order 2024 closed on 24 May 2024 at 12 noon. No further feedback can be accepted. The PSPA would like to thank those who provided their feedback on the consultation. Feedback is currently being reviewed by the PSPA and, in due course, the PSPA will publish a consultation response on this page. The PSPA will then finalise an amended Scheme for consideration by the Council of Ministers, and, subject to approval, lay the amended Order before Tynwald.

12 April 2024

The Public Sector Pensions Authority (PSPA) is currently consulting on proposed amendments to the current Public Sector Pensions Administration (Fees) Order 2021. At present, the fees charged were last reviewed in 2021 and was brought into operation on 1 December 2021. 

The purpose of this consultation document is to obtain views in relation to the draft Public Sector Pensions Administration (Fees) Order 2024. The intention of the order is to increase the charges for administration associated with Divorce and Dissolution of Civil Partnerships and the provision of multiple, hypothetical or ad hoc estimates for pension benefits and transfer values.

Consultation on the Teachers’ Pension Scheme 2024

3 April 2024

The Consultation on the Teachers’ Pension Scheme 2024 closed on 2 April 2024 at 12pm. No further feedback can be accepted. The PSPA would like to thank those who provided their feedback on the consultation. Feedback is currently being reviewed by the PSPA and, in due course, the PSPA will publish a consultation response on this page. The PSPA then plans to make any necessary changes to the draft Scheme before submitting to the Council of Ministers for consideration, and subject to approval, laying it before Tynwald for approval at the next opportunity.

7 March 2024 

The Public Sector Pensions Authority is currently consulting on proposed amendments to the current Teachers’ Superannuation Order 2011. At present, this is based upon the pension provision for Teachers in England and Wales.

The purpose of this consultation document is to obtain views in relation to the draft Teachers Pension Scheme 2024 (the Amendment Scheme). The intention of the Amendment Scheme is to replace the current Teachers Superannuation Order 2011, and to replace it with a redrafted Scheme which is in a simplified prose and set out in format similar to the Isle of Man Government Unified Scheme 2011.

The aim of this new Scheme is to not only make the Scheme easier for Members and administrators to follow, but importantly to remove redundant references to UK and Isle of Man pension provisions and legislation that no longer apply to the Isle of Man Public Sector pensions and where necessary to replace with the respective updated reference. The proposed amendments include inflation proofing to the Annual Pensionable Pay used to determine the member’s contribution rate.

The proposed amendments only affect members of the current Teachers Superannuation Order 2011. The changes do not apply to any other public sector pension scheme that the PSPA manages. The proposed amendments do not have any detrimental impact on any membership group but rather seek to improve the clarity of the Scheme.

Please note, the proposed amendment will have no effect on the accrual rate of benefits (the rate at which pension benefits are built up).

 

 

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