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Pension Schemes (Northern Ireland) Act 1993

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Changes over time for: Cross Heading: Financial provisions

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Version Superseded: 19/11/1996

Status:

Point in time view as at 07/02/1994.

Changes to legislation:

Pension Schemes (Northern Ireland) Act 1993, Cross Heading: Financial provisions is up to date with all changes known to be in force on or before 09 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Financial provisionsN.I.

169 Grants by the Board to advisory bodies, etc.N.I.

(1)The Board may make grants on such terms and conditions as they think fit to any person providing advice or assistance, or carrying out other prescribed functions, in connection with occupational or personal pensions.

(2)The Department may pay the Board such sums as the Department may think fit towards any expenditure of theirs in making grants under this section.

170 Levies towards meeting certain costs and grants.N.I.

(1)For the purpose of meeting some or all of the expenditure under sections 2 and 169 and Part X, regulations may make provision for imposing a levy in respect of such occupational or personal pension schemes as may be prescribed.

(2)Any levy imposed under this section shall be payable to the Department by or on behalf of—

(a)the administrators of such public service pension schemes as may be prescribed;

(b)the trustees or managers of such other occupational or personal pension schemes as may be prescribed; or

(c)such other persons as may be prescribed,

at such rates and at such times as may be prescribed.

(3)The amount payable by any person on account of the levy shall be a debt due from him to the Department and shall be recoverable accordingly.

(4)Without prejudice to the generality of subsection (1), regulations under this section may include provision relating to the collection and recovery of amounts payable by way of levy under this section.

171 Fees for official services to schemes.N.I.

Where at the request of the trustees or managers of an occupational pension scheme or a personal pension scheme or of any employer of earners who are members of such a scheme, official services are provided in connection with the operation or administration of the scheme either by the Department or by the Board on its behalf, the Department may require the payment of fees for the provision of those services.

172 General financial arrangements.N.I.

(1)There shall be paid out of the National Insurance Fund—

(a)minimum contributions paid by the Department under section 39;

(b)payments by it under section 120.

(2)Subject to subsection (3), there shall be paid out of the National Insurance Fund into the Consolidated Fund—

(a)sums equal to the amount of any expenses incurred by the Department (or by persons acting on its behalf) in exercising its functions under Chapter II of Part VII and section 153;

(b)such sums as the Department may estimate to be the amount of the administrative expenses of the Department or any government department in carrying into effect the remaining provisions of this Act, other than—

(i)Chapter I of Part IV and Part VIII so far as it applies for the purposes of that Chapter, sections 132 to 134, 135(2) and (3), 136, 137, 138(1) to (4), 139, 149(2), 154(1) to (5), 158, 159, 167, 168 and 171;

(ii)sections 3, 5, 22 to 30, 34 and 46 (so far as they relate to personal pension schemes), section 44 (so far as it relates to minimum contributions), section 46 (so far as it relates to personal pension schemes), section 50, sections 51 to 60 (so far as they relate to personal pension protected rights premiums), section 107 (and Part VIII and section 149 so far as they have effect for the purposes of section 107), sections 113, 150 and 151 and section 155 (so far as it relates to protected rights payments) and sections 156 and 162.

(3)The sums payable under subsection (2)(b)—

(a)shall be estimated in accordance with any directions given by the Department of Finance and Personnel and (except in the case of functions relating to minimum contributions) shall exclude such categories of expenses as that Department may direct, or any enactment may require, to be so excluded; and

(b)shall be payable at such times and in such manner as the Department of Finance and Personnel may direct.

(4)Subject to subsection (5), there shall be paid into the Consolidated Fund any sum recovered by the Department under the provisions within subsection (2)(b)(ii).

(5)So far as any such sum relates to a payment out of the National Insurance Fund, it shall be paid into that Fund.

(6)There shall be paid into the Consolidated Fund of the United Kingdom all fees paid to the Registrar.

(7)There shall also be paid into the National Insurance Fund—

(a)sums recovered under section 39(5) or (6);

(b)any personal pension protected rights premium;

(c)any sum recovered by the Department in exercising any right or pursuing any remedy which is the Department’s by virtue of section 123; and

(d)any sums received by it by way of such payments as are mentioned in paragraph 5(4) of Schedule 1.

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