The Welfare Reform and Pensions (Northern Ireland) Order 1999

Treatment in winding up N.I.

35.  Para. (1) rep. by 2005 NI 1

(2) In the case of an occupational pension scheme which is not a scheme to which[F1 this Article] applies, rights attributable (directly or indirectly) to a pension credit are to be accorded in a winding up the same treatment—

(a) if they have come into payment, as the rights of a pensioner member, and

(b) if they have not come into payment, as the rights of a deferred member.

[F1 (2A) This Article applies to an occupational pension scheme other than—

(a) a money purchase scheme, or

(b) a prescribed scheme or a scheme of a prescribed description.]

(3) Paragraph (2) overrides the provisions of a scheme to the extent that it conflicts with them, and the scheme has effect with such modifications as may be required in consequence.

(4) In paragraph (2)—

(a) “deferred member” and “pensioner member” have the same meanings as in Part II of the Pensions Order;

(b) “pension credit” includes a credit under section 29(1)(b) of the Welfare Reform Act;

(c) references to rights attributable to a pension credit having come into payment are to the person to whom the rights belong having become entitled by virtue of the rights to the present payment of pension or other benefits.

F1 2005 NI 1