- Deddfwriaeth Ddrafft
This is a draft item of legislation. This draft has since been made as a Northern Ireland Statutory Rule: The Judicial Pensions Regulations (Northern Ireland) 2015 No. 76
131. This Part—
(a)supplements the rights conferred by or under Chapter 4 of Part 4 (transfer values) of the 1993 Act and is without prejudice to that Chapter; and
(b)supplements the rights conferred by or under Chapter 5 of that Part(1) (early leavers: cash transfer sums and contribution refunds) and is without prejudice to that Chapter.
132. In this Part—
“cash equivalent” means an amount calculated in accordance with regulations made under section 93 (calculation of cash equivalents) of the 1993 Act(2);
“guarantee date” has the meaning given in regulation 135;
“guaranteed cash equivalent” means, in relation to calculating the transfer value of accrued rights to benefits under this scheme, the cash equivalent of those benefits as at the guarantee date, as specified in a statement of entitlement;
“statement of entitlement” means, in relation to an active or deferred member’s accrued rights to benefits under this scheme, a statement by the scheme manager of the cash equivalent of those benefits as at the guarantee date;
“transfer value” means—
for accrued rights to benefits under this scheme, an amount equal to—
the guaranteed cash equivalent of those benefits; or
the guaranteed cash equivalent together with any increase payable under regulation 137; and
for accrued rights to benefits under another pension scheme, an amount—
determined by the scheme actuary of that scheme; and
specified in a statement of accrued rights provided by the scheme manager of that scheme.
Chapter 5 of Part 4 of the Pension Schemes (Northern Ireland) Act 1993 was inserted by the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)) Article 241.
Section 93 was amended by the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I.22)) Article 165 Schedule 4 paragraph 6 and the Child Support, Pensions and Social Security Act (Northern Ireland) 2000 (c.14) (N.I.) section 52 and Schedule 5 paragraph 5.
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
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Draft Explanatory Memorandum sets out a brief statement of the purpose of a Draft Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Draft Statutory Rule accessible to readers who are not legally qualified and accompany any Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.
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