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Teachers’ Superannuation (General Provisions) (Amendment No. 3) (Jersey) Order 2007.

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A decision made (28/03/2007) regarding: Teachers’ Superannuation (General Provisions) (Amendment No. 3) (Jersey) Order 2007.

Subject:

Teachers’ Superannuation (General Provisions) (Amendment No. 3) (Jersey) Order 2007

Decision Reference:

MD-C-2007-0024

Exempt clause(s):

N/A

Type of Report: (oral or written)

Written

Person Giving Report (if oral):

N/A

Telephone or

e-mail Meeting?

N/A

Report

File ref:

MB/PENS/SCH/TSF/07

Written Report –

Title

Teacher’s Superannuation Fund – Amendment to the Teachers’ Superannuation (General Provisions) (Amendment No. 3) (Jersey) Order 2007

Written report - author

Maureen Byron – Senior Human Resources Manager

Decision: The Chief Minister, following consultation with the Management Board of the Teachers’ Superannuation Fund, made an Order entitled the “Teachers’ Superannuation (General Provisions) (Amendment No. 3) (Jersey) Order 2007” the purpose of which was to amend the Teachers’ Superannuation (General Provisions) (Jersey) Order 1986 (the principal Order) –

The amendments cover the following areas:-

· Replace references to the “Minister” to the “Management Board”;

· It amends the principal Order so that the scheme established under it is closed to teachers whose first day of employment is on or after 1 April 2007;

· Provisions covering the acceptance of schools into the scheme have been moved to the Teachers’ Superannuation (Administration) (Jersey) Order 2007;

· Employers are required to contribute 16.4% of salary rather than the current 9.95%;

· Contributions may be varied if an actuarial review indicates a surplus or a deficiency in the Fund;

· Provisions relating to transfers or refunds of contributions from the scheme;

· Renames the principal Order the “Teachers’ Superannuation (Existing Members) (Jersey) Order 1986.

Reason(s) for decision:

On the 12 January 2007, the Chief Minister became responsible for making Orders under the Law and for the administration of the Scheme. The Order to establish a Management Board is now complete and these amendments enable the Management Board to take over the functions of the Minister in relation to the administration of the Teachers’ Superannuation Fund.

It amends the principal Order so that the scheme established under it is closed to teachers’ whose first day of employment is on or after 1 April 2007. This Order also amends the principal Order to take into account the Teachers’ Superannuation (New Members) (Jersey) Order 2007.

Action required:

  Deliver signed and sealed copy of the Order to the States Greffe without delay.

  Request that the States Greffe arranges for the attached document to be laid before the States in accordance with States procedures.

Signature:

(Chief Minister)

Date of Decision:

28 March 2007

Teachers’ Superannuation (General Provisions) (Amendment No. 3) (Jersey) Order 2007.

CHIEF MINISTER’S DEPARTMENT

HUMAN RESOURCES

TEACHERS’ SUPERANNUATION FUND - ORDER

BACKGROUND

On the 12 January 2007, the Chief Minister became responsible for making Orders under the Law and for the administration of the Scheme. The Order to establish a Management Board is now complete and these amendments enable the Management Board to take over the functions of the Minister in relation to the administration of the Teachers’ Superannuation Fund.

It amends the principal Order so that the scheme established under it is closed to teachers’ whose first day of employment is on or after 1 April 2007.

This Order also amends the principal Order to take into account the Teachers’ Superannuation (New Members) (Jersey) Order 2007.

DISCUSSION

The amendments cover the following areas:-

· Replace references to the Minister to the Management Board;

· It amends the principal Order so that the scheme established under it is closed to teachers whose first day of employment is on or after 1 April 2007;

· Provisions covering the acceptance of schools into the scheme have been moved to the Teachers’ Superannuation (Administration) (Jersey) Order 2007;

· Employers are required to contribute 16.4% of salary rather than the current 9.95%;

· Contributions may be varied if an actuarial review indicates a surplus or a deficiency in the Fund;

· Provisions relating to transfers or refunds of contributions from the scheme;

· Renames the principal Order the “Teachers’ Superannuation (Existing Members) (Jersey) Order 1986.

RECOMMENDATION

The Chief Minister is recommended to sign the Order which shall come into force on the day on which the Teachers’ Superannuation (New Members) (Jersey) Order 2007 comes into force, 1 April 2007.

Instruct officers to lay the attached document before the States in accordance with States procedures.

MB/HR/CMD

March 2007

 

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