An employer may award a member up to £8,675 per annum additional pension (2024/25 rates) under regulation 32 of the Scheme regulations. This additional pension only increases the member’s benefits and does not provide any increased survivor or dependant’s benefits.
The cost of additional pension is calculated by the Scheme’s actuary and these costs will be revised from time to time. The factors depend on the member’s age at their last birthday.
Additional pension awarded by the employer under regulation 32 is not reduced for early payment when the reason for leaving is redundancy or business efficiency.
Once in payment the additional pension is increased with reference to Pensions Increase Orders.
Payment to NILGOSC for awarding additional pension
On advice of a resolution to award additional pension NILGOSC will invoice the awarding employing authority. This invoice must be paid within one month of the date of resolution or such longer period as the employer and NILGOSC agree.