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Pension Schemes (Northern Ireland) Act 1993

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Point in time view as at 16/12/1995. This version of this provision has been superseded. Help about Status

Changes to legislation:

Pension Schemes (Northern Ireland) Act 1993, Section 6 is up to date with all changes known to be in force on or before 24 November 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

6 Protected rights and money purchase benefits.N.I.

(1)Subject to subsections (2) and (3), the protected rights of a member of a pension scheme are his rights to money purchase benefits under the scheme.

(2)If the rules of an occupational pension scheme so provide, a member’s protected rights are—

(a)his rights under the scheme which derive from the payment of minimum payments together with any payments by the Department to the scheme under Article 9 of the M1Social Security (Northern Ireland) Order 1986 in respect of the member;

(b)any rights of the member to money purchase benefits which derive from protected rights under another occupational pension scheme or under a personal pension scheme which have been the subject of a transfer payment; and

(c)such other rights as may be prescribed.

(3)If the rules of a personal pension scheme so provide, a member’s protected rights are—

(a)his rights under the scheme which derive from any payment of minimum contributions to the scheme; and

(b)any rights of his to money purchase benefits which derive from protected rights under another personal pension scheme or protected rights under an occupational pension scheme which have been the subject of a transfer payment; and

(c)such other rights as may be prescribed.

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