- 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
149.—(1) This regulation applies if—
(a)the pension entitlement of a single capacity member or the pension entitlement of a single capacity member’s beneficiary does not exceed the small pensions commutation maximum; or
(b)the total pension entitlement of a dual capacity member or the total pension entitlement of a dual capacity member’s beneficiary does not exceed the small pensions commutation maximum.
(2) Unless the member has reached state pension age, this regulation does not apply if—
(a)the pension entitlement of the member or the member’s beneficiary under paragraph (1)(a) is equal to or exceeds the member’s guaranteed minimum; or
(b)the total pension entitlement of the member or the member’s beneficiary under paragraph (1)(b) is equal to or exceeds the member’s guaranteed minimum.
(3) The scheme manager may pay the member or the member’s beneficiary a lump sum of an amount advised by the scheme actuary as representing the cash value of the pension if—
(a)the member or the member’s beneficiary consents to receipt of a lump sum in place of the pension; and
(b)the requirements of the commutation provisions that apply in the circumstances are met.
(4) The payment of a lump sum under this regulation in place of a pension discharges all liabilities under this scheme in respect of that pension.
(5) In this regulation—
“the commutation provisions” means the provisions permitting the commutation of pensions set out in—
regulation 2 (commutation of a pension under an occupational pension scheme) of the Occupational Pension Schemes (Assignment, Forfeiture, Bankruptcy etc.) Regulations (Northern Ireland) 1997(1);
paragraph 7 of Schedule 29 (registered pension schemes: authorised lump sums - supplementary) to the 2004 Act (which defines trivial commutation lump sums for the purposes of Part 4 of that Act)(2) and, in relation to a pension payable under Part 8, paragraph 20 of that Schedule (which defines trivial commutation lump sum death benefit for the purposes of Part 4 of that Act)(3); and
regulation 3 (commutation of the whole of pension credit benefit) of the Pension Sharing (Pension Credit Benefit) Regulations (Northern Ireland) 2000(4);
“single capacity member” means a member of this scheme who is not a dual capacity member; and
“the small pensions commutation maximum” means the amount that is permitted to be commuted having regard to the commutation provisions that apply in the circumstances.
S.R. 1997 No. 153. Regulation 2 was amended by S.R. 2005 No. 171, S.R. 2006 No. 141, S.I. 2006/744 and S.R. 2009 No. 365.
Paragraph 7 was amended by Finance Act 2011 (c. 11) Schedule 16 paragraphs 23 and 29 and Schedule 18 paragraphs 1, 3 and 4 and S.I. 2006/572.
Paragraph 20 was amended by Finance Act 2011 (c. 11) Schedule 16 paragraphs 32 and 39 and Schedule 18 paragraphs 1, 3 and 6.
S.R. 2000 No. 146. Regulation 3 was substituted by S.R. 2009 No. 365.
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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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