Part 1: Public Service Pension Schemes Chapter 4: General Section 95: Amendments relating to the establishment or restriction of schemes
PSPA 2013 and PSPA (NI) 2014 set out the governance and valuation frameworks for pension schemes set up under these Acts. This section ensures that the governance and valuation frameworks operate as intended where a pension scheme established under PSPA 2013 or PSPA (NI) 2014 is closed, and a new scheme is established for persons of the same description. Where two schemes have been established for persons of the same description, they are known as "connected schemes" (see section 4(6) PSPA 2013 and PSPA (NI) 2014).
	Section 95(2), (3) and (4) insert new subsections into sections 4, 5, and 7 of PSPA 2013 to ensure that scheme regulations do not need to provide for the appointment of a scheme manager, pension board and scheme advisory board respectively, if the scheme in question is connected with another scheme and a scheme manager, pension board or scheme advisory board is provided for in regulations for that connected scheme. Section 95(4) also amends section 7 PSPA 2013 to require scheme advisory boards to provide advice on the desirability of changes to connected schemes, as long as those schemes are not injury or compensation schemes. Sections 95(9), 95(10) and 95(11) make the equivalent changes to PSPA (NI) 2014.
	Section 95(5) inserts a new subsection which removes the requirement under s.11(1) PSPA 2013 for a scheme’s regulations to provide for actuarial valuations of that scheme where the scheme is connected with another scheme and actuarial valuations are provided for in the regulations of that other scheme. Section 95(12) makes the equivalent changes to PSPA (NI) 2014.
	Section 95(6) inserts a new subsection (12A) which states that where a scheme is a restricted scheme and is specified for the purposes of this section in Treasury regulations, the requirement under section 11(1) PSPA 2013 is removed and section 12(1) PSPA 13 is disapplied in respect of that scheme, meaning scheme regulations need not provide for actuarial valuations or the setting of an employer cost cap for the purpose of measuring changes in the cost of that scheme. Treasury regulations which specify a scheme for the purpose of this section are subject to the negative Commons procedure. Section 95(13) makes the equivalent changes to PSPA (NI) 2014, save for the fact that schemes to which this section applies are to be specified in regulations made by Northern Ireland’s Department of Finance. Those regulations will be subject to negative resolution.