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Teachers' Superannuation (Administration) (Amendment No.2) (Jersey) Order 2012

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

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  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

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The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made on 30 November 2012:

Decision Reference: MD-C-2012-0120 

Decision Summary Title :

Teachers’ Superannuation (Administration) (Amendment No.2) (Jersey) Order 2012

Date of Decision Summary:

30th November 2012

 

Decision Summary Author:

 

Project Director – Pensions

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title :

Teachers’ Superannuation (Administration) (Amendment No.2) (Jersey) Order 2012

Date of Written Report:

28th November 2012

Written Report Author:

Project Director – Pensions

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject:  Teachers’ Superannuation (Administration) (Amendment No.2) (Jersey) Order 2012

Decision(s):   The Deputy Chief Minister made the Teachers’ Superannuation (Administration) (Amendment No.2) (Jersey) Order 2012.

Reason(s) for Decision: 

Following a request from the Management Board of the Jersey Teachers’ Superannuation Fund (JTSF) the States Employment Board agreed to some minor changes in the JTSF legislation, namely the Jersey Teachers’ Superannuation (Administration) Order 2007, these are:

 

  1. Article 2 amends Article 18 of the Order. This requires a surplus in the JTSF to be applied to restore pension increases that have been reduced or foregone. The amendment ensures that Article 18(2) now correctly refers to a “reduction in an increase in pensions” rather than “a reduction in pension”.

 

  1. Article 18(2) and (3) are also tidied in a number of respects.

 

Article 3 amends Article 23 of the Order. This Article requires annual cost-of-living increases from 1st January each year. Article 23(2)(c) also (when read with Article 18) requires increases reduced or foregone in the previous 5 years to be restored. The amendment changes that period to 6 years and clarifies that those 6 years are the 6 years before the date on which the relevant actuarial report is signed by the Actuary.

Resource Implications:  There are no resource implications.

Action required:   Signed and sealed Order to be returned to the States Greffe without delay.

Signature:

 

Position: 

 

Senator I J Gorst, Chief Minister

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

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