- Y Diweddaraf sydd Ar Gael (Diwygiedig)
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The Pensions (Northern Ireland) Order 2005
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The pension compensation provisions
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Memorandwm Esboniadol
146.—(1) Schedule 6 makes provision for compensation to be paid in relation to a scheme for which the Board assumes responsibility in accordance with this Chapter, including provision for—
(a)periodic compensation to be paid to or in respect of members,
(b)lump sum compensation to be paid to members,
(c)a cap to be imposed on the periodic compensation and lump sum compensation payable, and
(d)annual increases to be made to periodic compensation.
(2) In this Part references to the pension compensation provisions are to the provisions of, and the provisions made by virtue of, this Article, Articles 124 to 126, 145(2)(c), 148 and 152 and Schedule 6.
(Those references do not include any provision of, or made by virtue of, Article 154 (discharge of liabilities in respect of money purchase benefits)).
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Explanatory Memorandum sets out a brief statement of the purpose of a Northern Ireland Order in Council and provides information about its policy objective and policy implications. They aim to make the Order accessible to readers who are not legally qualified and accompany any Northern Ireland Order in Council made since 2002.
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