keep The Pensions Increase (Civil Service Supplementary (Earnings Cap) Pension Scheme 1994) Regulations 1995
These Regulations extend pension increase provisions under the Pensions (Increase) Act 1971 to the Civil Service Supplementary (Earnings Cap) Pension Scheme 1994, ensuring that pensions under this scheme receive the same cost-of-living adjustments as other civil service pensions specified in Schedule 2 to the 1971 Act. The regulation applies to pensions beginning on or after 2nd March 1992.
This regulation is a narrow technical amendment ensuring equal treatment for a specific civil service pension scheme. While public sector pensions raise broader fiscal concerns, this regulation itself imposes no cost on the private sector, creates no market distortion, and does not restrict supply or competition. Deleting it would harm affected civil servants by removing their inflation protection, a cost borne by identifiable individuals without corresponding economic benefit. The regulation achieves its limited, legitimate purpose of pension parity without gold-plating or regulatory overreach.