Circular 22/2016 Pension Bulletin (July 2016) Annual Benefit Statement
ANNUAL BENEFIT STATEMENT
This bulletin is to provide operational Firefighters with an update on the current position regarding their Annual Benefit Statement in relation to their respective Pension Schemes and provide an update on Service Circular 5/2016 previously distributed.
NIFRS currently administers 3 Firefighter Pension Schemes, namely:
â?¢ The Firefighters- Pension Scheme Order (Northern Ireland) 2007;
â?¢ The New Firefighters- Pension Scheme Order (Northern Ireland) 2007 (including The New Firefighters- Pension Scheme (Amendment) Order (Northern Ireland) 2015 (Modified);
â?¢ The Firefighters- Pension Scheme Regulation (Northern Ireland) 2015 (CARE).
Under current legislation, NIFRS is required to provide pension members with a Pension Benefit Statement on an annual basis, indicating the benefits a member could receive on reaching normal retirement age and possible death benefits.
In December 2014, NIFRS- pension software provider moved its operating software to a new platform. From this date NIFRS has had no pension software system and has been unable to produce Annual Benefit Statements for all of the members of the Schemes set out above.
NIFRS is currently in the process of outsourcing its pension administration to Business Service Organisation (BSO) Pension Services.
Unfortunately, however, there has been a delay in procuring a new pension software system and it is now anticipated that by April 2017 the system will be procured, data populated and a data cleansing exercise performed.
At this juncture, priority will be given to distributing Annual Benefit Statements to all members.
It should be noted that NIFRS have advised both the Pensions Regulator and Department of Health of this issue and members- entitlements will not be effected by this delay.
Again we apologise for the delay in receiving your Annual Benefit Statement and appreciate your patience in this matter.
If you have any queries regarding pensions please e-mail email@example.com.
DIRECTOR OF FINANCE
18 July 2016