92 Amendments relating to employer cost cap
Public Service Pensions and Judicial Offices Act 2022 (2022 c 7) | Legislation

Employer cost cap

92  Amendments relating to employer cost cap

(1)     Section 12 of PSPA 2013 (employer cost cap) is amended in accordance with subsections (2) to (9).

(2)     After subsection (1) insert—

“(1A)     Subsection (1) must be complied with before the end of the period of one year beginning with the day on which the scheme's first valuation under section 11 is completed.”

(3)     For subsection (2) substitute—

“(2)     A reference in this section to “the employer cost cap” of a scheme under section 1 is a reference to the rate set by virtue of subsection (1) in relation to the scheme.”

(4)     In subsection (3)—

(a)     after “cap” insert “of a scheme under section 1”;

(b)     after “set” insert “, and the changes in the cost of such a scheme are to be measured,”.

(5)     In subsection (4)—

(a)     in paragraph (a), for “the cap” substitute “the employer cost cap of the scheme”;

(b)     in paragraph (b)—

(i)     for “subsequent valuations” insert “the second or any subsequent valuation”;

(ii)     for “the cap” substitute “the employer cost cap of the scheme”;

(c)     in paragraph (c)—

(i)     for “the extent to which” substitute “whether and if so to

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