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Teachers’ Superannuation (Refund of Contributions, Deferred Pensions and Transfer Value Payments) Miscellaneous Amendments) (Jersey) Order 2018

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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Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

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A decision made 26 January 2018:

Ministerial decision reference    MD-C-2018-0013 

Decision summary title   Teachers’ Superannuation (Refund of Contributions, Deferred Pensions and Transfer Value Payments) Miscellaneous Amendments) (Jersey) Order 2018

Decision summary author

Projects Director – Pensions, States Treasury

Is the decision summary public or exempt?  

Public

Report title  Teachers’ Superannuation (Refund of Contributions, Deferred Pensions and Transfer Value Payments) Miscellaneous Amendments) (Jersey) Order 2018

Report author or name of

person giving report

Projects Director – Pensions, States Treasury

Is the report public or exempt?

Public

Decision and reason for the decision

As a result of changes to Income Tax legislation and following a request from the Management Board of the Jersey Teachers’ Superannuation Fund the States Employment Board and the Chief Minister agreed to amend the Teachers’ Superannuation (Existing Members) (Jersey) Order 1986 and the Teachers’ Superannuation (New Members) (Jersey) Order 2007 with regard to Deferred Pensions, Transfer Payments and Refund of Contributions.

The Chief Minister accordingly made the Teachers’ Superannuation (Refund of Contributions, Deferred Pensions and Transfer Value Payments) Miscellaneous Amendments) (Jersey) Order 2018.

The new legislation will:

1)             enable a teacher who ceased to be employed, having completed less than 5 years’ reckonable service and who had chosen not to apply for a deferred pension or a transfer out, to take the option of a refund of his or her pension contributions;

2)             permit a teacher to choose a deferred pension regardless of the length of reckonable service at age 60 under the Existing Members Order and at Normal Retirement Age under the New Members Order, provided he or she had not applied for a refund of contributions or a transfer out; and

3)             allow a teacher, who had ceased employment for the purposes of the JTSF, the option of receiving a transfer value payment, provided he or she had not applied for a refund of contributions or a deferred pension.

Resource implications

There are no resource implications of this decision.

Action required

The signed Order to be forwarded to the Publications Editor at the States Greffe and to request the Greffier of the States to arrange for the making of the Order to be notified to the States Assembly.

Signature

 

 

 

 

Position

 

Senator Ian Gorst

Chief Minister

 

 

Date signed

 

Effective date of the decision

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