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SCHEDULES

SCHEDULE 4N.I.ABOLITION OF CONTRACTING-OUT FOR DEFINED CONTRIBUTION PENSION SCHEMES

PART 2 N.I.FURTHER AMENDMENTS

The Pension Schemes (Northern Ireland) Act 1993 (c. 49)N.I.

59—(1) Paragraph 2 of Schedule 3 (priority in bankruptcy, etc.: employer's contributions to occupational pension scheme) is amended as follows.N.I.

(2) Omit sub-paragraphs (2) and (3) (sums owed on account of employer's minimum payments to a money purchase contracted-out scheme).

(3) In sub-paragraph (3A) (definition of “the appropriate amount”)—

(a)in the opening words omit “or (3)”;

(b)in paragraph (a) omit “or (2) (as the case may be)”.

(4) In sub-paragraph (5) (interpretation)—

(a)omit the definition of “appropriate flat-rate percentage”;

[F1(b)in the definition of “the percentage for contributing earners”—

(i)omit the words “(a) in relation to a salary related contracted-out scheme,”;

(ii)omit paragraph (b) and the preceding “and”;]

[F1(c)in the definition of “the percentage for non-contributing earners”—

(i)omit the words “(a) in relation to a salary related contracted-out scheme,”;

(ii)omit paragraph (b) and the preceding “and”.]

Textual Amendments

F1Sch. 4 para. 59(4)(b) (c) substituted (2.6.2012) by Pensions Act (Northern Ireland) 2012 (c. 3), ss. 25, 34(2)

Commencement Information

I1Sch. 4 para. 59 in operation at 7.6.2012 by S.R. 2012/234, art. 2(1)(a)(ii)

I2Sch. 4 para. 59(1) in operation at 6.4.2012 for specified purposes by S.R. 2012/115, art. 2(1)(b)(iv)

I3Sch. 4 para. 59(2) (3) in operation at 6.4.2012 by S.R. 2012/115, art. 2(1)(b)(v)