The Pensions (Northern Ireland) Order 2005

1. Introductory Text

2. PART I INTRODUCTORY

   1. 1. Title and commencement

   2. Interpretation

      1. 2. General interpretation

3. PART II THE PENSIONS REGULATOR

   1. General provisions about functions

      1. 3. Regulator's functions

      2. 4. Regulator's objectives

      3. 5. Supplementary powers

      4. 6. Transfer of OPRA's functions to the Regulator

   2. The Determinations Panel

      1. 7. Functions exercisable by the Determinations Panel

   3. Provision of information, education and assistance

      1. 8. Provision of information, education and assistance

   4. New powers in respect of occupational and personal pension schemes

      1. 9. Improvement notices

      2. 10. Third party notices

      3. 10A. Appointment of skilled person to assist public service pension scheme

      4. 11. Injunctions

      5. 12. Restitution

      6. 13. Power of the Regulator to recover unpaid contributions

      7. 14. Pension liberation: interpretation

      8. 15. Pension liberation: Court's power to order restitution

      9. 16. Pension liberation: restraining orders

      10. 17. Pension liberation: repatriation orders

   5. Powers in relation to winding up of occupational pension schemes

      1. 18. Powers to wind up occupational pension schemes

      2. 19. Freezing orders

      3. 20. Consequences of freezing order

      4. 21. Period of effect etc. of freezing order

      5. 22. Validation of action in contravention of freezing order

      6. 23. Effect of determination to wind up scheme on freezing order

      7. 24. Effect of winding up order on freezing order

      8. 25. Effect of assessment period under Part III on freezing order

      9. 26. Power to give a direction where freezing order ceases to have effect

      10. 27. Notification of trustees, managers, employers and members

      11. 28. Articles 19 to 27: supplementary

   6. Trustees of occupational pension schemes

      1. 29. Prohibition orders

      2. 30. Suspension orders

      3. 31. Appointment of trustees by the Regulator

      4. 32. Independent trustees

      5. 33. Disqualification

   7. Contribution notices where avoidance of employer debt

      1. 34. Contribution notices where avoidance of employer debt

      2. 34A. Article 34 contribution notice: meaning of “material detriment test”

      3. 34B. Article 34 contribution notice issued by reference to material detriment test: defence

      4. 35. The sum specified in an Article 34 contribution notice

      5. 35A. Article 34 contribution notice: transfer of members of the scheme

      6. 35B. Article 35A: supplemental

      7. 36. Content and effect of an Article 34 contribution notice

      8. 37. Article 34 contribution notice: relationship with employer debt

      9. 38. Article 34 contribution notice: clearance statements

   8. Financial support directions

      1. 39. Financial support directions

      2. 39A. Financial support directions: transfer of members of the scheme

      3. 39B. Article 39A: supplemental

      4. 40. Meaning of “service company” and “insufficiently resourced”

      5. 41. Meaning of “financial support”

      6. 42. Financial support directions: clearance statements

      7. 43. Contribution notices where non-compliance with financial support direction

      8. 44. The sum specified in an Article 43 contribution notice

      9. 45. Content and effect of an Article 43 contribution notice

      10. 46. Article 43 contribution notice: relationship with employer debt

      11. 47. Articles 39 to 46: interpretation

   9. Transactions at an undervalue

      1. 48. Restoration orders where transactions at an undervalue

      2. 49. Restoration orders: supplementary

      3. 50. Content and effect of a restoration order

      4. 51. Contribution notice where failure to comply with a restoration order

      5. 52. Content and effect of an Article 51 contribution notice

   10. Articles 34 to 52: partnerships and limited liability partnerships

       1. 53. Articles 34 to 52: partnerships and limited liability partnerships

   11. Applications under the Insolvency Order

       1. 54. Regulator's right to apply under Article 367 of the Insolvency Order

   12. Register of schemes

       1. 55. Registrable information

       2. 56. The register: inspection, provision of information and reports etc.

       3. 57. The register: duties of trustees or managers

       4. 58. Duty of the Regulator to issue scheme return notices

       5. 59. Duty of trustees or managers to provide scheme return

       6. 60. Scheme returns: supplementary

   13. Register of prohibited trustees

       1. 61. Register of prohibited trustees

       2. 62. Accessibility of register of prohibited trustees

   14. Collecting information relevant to the Board

       1. 63. Information relevant to the Board

       2. 64. Duty to notify the Regulator of certain events

   15. Reporting breaches of the law

       1. 65. Duty to report breaches of the law

   16. Reporting late payment of employer contributions

       1. 65A. Duty to report late payment of employer contributions

   17. Reports by skilled persons

       1. 66. Reports by skilled persons

   18. Gathering information

       1. 67. Provision of information

       2. 68. Inspection of premises

       3. 69. Inspection of premises in respect of employers' obligations

       4. 70. Inspection of premises: powers of inspectors

       5. 71. Inspection of premises: supplementary

       6. 72. Penalties relating to Articles 67 to 70

       7. 73. Warrants

       8. 74. Articles 67 to 73: interpretation

   19. Provision of false or misleading information

       1. 75. Offences of providing false or misleading information

   20. Use of information

       1. 76. Use of information

   21. Disclosure of information

       1. 77. Restricted information

       2. 78. Information supplied to the Regulator by corresponding overseas authorities

       3. 79. Disclosure for facilitating exercise of functions by the Regulator

       4. 80. Disclosure for facilitating exercise of functions by the Board

       5. 81. Disclosure for facilitating exercise of functions by other supervisory authorities

       6. 82. Other permitted disclosures

       7. 83. Tax information etc.

   22. Reports

       1. 84. Publishing reports etc.

       2. 84A. Reports about misappropriation, etc. in public service pension schemes

   23. Codes of practice

       1. 85. Codes of practice

       2. 85A. Codes of practice: public service pension schemes

       3. 86. Procedure for issue and publication of codes of practice

       4. 87. Revocation of codes of practice

   24. Exercise of regulatory functions

       1. 88. The Regulator's procedure in relation to its regulatory functions

       2. 89. Publication of procedure in relation to regulatory functions

       3. 90. Application of standard and special procedure

       4. 91. Standard procedure

       5. 92. Special procedure: applicable cases

       6. 93. Special procedure

       7. 94. Compulsory review

       8. 95. Duty to have regard to the interests of members etc.

       9. 96. Powers to vary or revoke orders, notices or directions etc.

   25. References to a tribunal

       1. 96A. Offences

       2. 97. References in relation to decisions of the Regulator

       3. 98. Appeal on a point of law

       4. 99. Redetermination etc. by the Tribunal

       5. 100. Disclosure of information

4. PART III THE BOARD OF THE PENSION PROTECTION FUND

   1. CHAPTER 1 THE BOARD

      1. General provision about functions

         1. 101. Board's functions and supplementary powers etc.

      2. Financial matters

         1. 102. Grants

         2. 103. Administration levy

         3. 103A. Administration levy: interest for late payment

   2. CHAPTER 2 INFORMATION RELATING TO EMPLOYER'S INSOLVENCY ETC.

      1. Insolvency events

         1. 104. Duty to notify insolvency events in respect of employers

         2. 105. Insolvency event, insolvency date and insolvency practitioner

      2. Status of scheme

         1. 106. Insolvency practitioner's duty to issue notices confirming status of scheme

         2. 107. Approval of notices issued under Article 106

      3. Board's duties

         1. 108. Board's duty where there is a failure to comply with Article 106

         2. 109. Binding notices confirming status of scheme

   3. CHAPTER 3 PENSION PROTECTION

      1. Eligible schemes

         1. 110. Eligible schemes

      2. Circumstances in which Board assumes responsibility for eligible schemes

         1. 111. Duty to assume responsibility for schemes following insolvency event

         2. 112. Duty to assume responsibility for schemes following application or notification

         3. 113. Applications and notifications for the purposes of Article 112

         4. 114. Board's duty where application or notification received under Article 113

         5. 115. Protected liabilities

      3. Restrictions on schemes during the assessment period

         1. 116. Assessment periods

         2. 117. Admission of new members, payment of contributions etc.

         3. 118. Directions

         4. 119. Restrictions on winding up, discharge of liabilities etc.

         5. 120. Power to validate contraventions of Article 119

         6. 121. Board to act as creditor of the employer

         7. 122. Payment of scheme benefits

         8. 123. Loans to pay scheme benefits

      4. Ill health pensions

         1. 124. Reviewable ill health pensions

         2. 125. Effect of a review

         3. 126. Articles 124 and 125: interpretation

      5. Valuation of assets and liabilities

         1. 127. Board's obligation to obtain valuation of assets and protected liabilities

         2. 127A. Determinations under Article 127

         3. 128. Approval of valuation

         4. 129. Binding valuations

      6. Refusal to assume responsibility

         1. 130. Schemes which become eligible schemes

         2. 131. New schemes created to replace existing schemes

         3. 132. Withdrawal following issue of Article 106(4) notice

      7. Cessation of involvement with a scheme

         1. 133. Circumstances in which Board ceases to be involved with an eligible scheme

         2. 134. Consequences of the Board ceasing to be involved with a scheme

      8. Reconsideration

         1. 135. Application for reconsideration

         2. 136. Duty to assume responsibility following reconsideration

      9. Closed schemes

         1. 137. Closed schemes

      10. Winding up

          1. 138. Requirement to wind up schemes with sufficient assets to meet protected liabilities

      11. Provisions applying to closed schemes

          1. 139. Treatment of closed schemes

          2. 140. Valuations of closed schemes

      12. Reconsideration of closed schemes

          1. 141. Applications and notifications where closed schemes have insufficient assets

          2. 142. Duty to assume responsibility for closed schemes

          3. 143. Closed schemes: further assessment periods

      13. Assumption of responsibility for a scheme

          1. 144. Transfer notice

          2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

          3. 145. Effect of Board assuming responsibility for a scheme

          4. 146. The pension compensation provisions

          5. 147. Adjustments to be made where the Board assumes responsibility for a scheme

          6. 148. Postponement of compensation entitlement for the assessment period

          7. 149. Guaranteed minimum pensions

          8. 150. Duty to pay scheme benefits unpaid at assessment date etc.

          9. 151. Modification of Chapter where liabilities discharged during assessment period

          10. 152. Administration of compensation

      14. Charges in respect of pension sharing etc.

          1. 152A. Charges in respect of pension sharing etc.

      15. Discharge of Board's liabilities

          1. 153. Discharge of liabilities in respect of compensation

          2. 154. Discharge of liabilities in respect of money purchase benefits

      16. Equal treatment

          1. 155. Equal treatment

      17. Relationship with fraud compensation regime

          1. 156. Relationship with fraud compensation regime

      18. The levies

          1. 157. Initial levy

          2. 158. Pension protection levies

          3. 159. Supplementary provisions about pension protection levies

          4. 160. Amounts to be raised by the pension protection levies

          5. 161. The levy ceiling

          6. 162. Valuations to determine scheme underfunding

          7. 163. Pension protection levies during the transitional period

          8. 164. Calculation, collection and recovery of levies

          9. 164A. Pension protection levy: interest for late payment

   4. CHAPTER 4 FRAUD COMPENSATION

      1. Entitlement to fraud compensation

         1. 165. Cases where fraud compensation payments can be made

         2. 166. Board's duties in respect of certain applications under Article 165

         3. 167. Recovery of value

         4. 168. Fraud compensation payments

         5. 169. Interim payments

         6. 170. Board's powers to make fraud compensation transfer payments

      2. The levy

         1. 171. Fraud compensation levy

         2. 171A. Fraud compensation levy: interest for late payment

   5. CHAPTER 5 GATHERING INFORMATION

      1. 172. Information to be provided to the Board etc.

      2. 173. Notices requiring provision of information

      3. 174. Entry of premises

      4. 175. Penalties relating to Articles 173 and 174

      5. 176. Warrants

      6. Provision of false or misleading information

         1. 177. Offence of providing false or misleading information to the Board

      7. Use of information

         1. 178. Use of information

      8. Disclosure of information

         1. 179. Restricted information

         2. 180. Disclosure for facilitating exercise of functions by the Board

         3. 181. Disclosure for facilitating exercise of functions by the Regulator

         4. 182. Disclosure for facilitating exercise of functions by other supervisory authorities

         5. 183. Other permitted disclosures

         6. 184. Tax information

      9. Provision of information to members of schemes etc.

         1. 185. Provision of information to members of schemes etc.

      10. Interpretation

          1. 186. Articles 172 to 185: interpretation

      11. Reports

          1. 187. Publishing reports etc.

   6. CHAPTER 6 REVIEWS, APPEALS AND MALADMINISTRATION

      1. Review etc. by the Board

         1. 188. Meaning of “reviewable matters”

         2. 189. Review and reconsideration by the Board of reviewable matters

         3. 190. Investigation by the Board of complaints of maladministration

      2. The PPF Ombudsman

         1. 191. The PPF Ombudsman

      3. References to the PPF Ombudsman

         1. 192. Reference of reviewable matter to the PPF Ombudsman

         2. 193. Investigation by PPF Ombudsman of complaints of maladministration

         3. 194. Referral of questions of law

         4. 195. Publishing reports etc.

         5. 196. Determinations of the PPF Ombudsman

         6. 197. Obstruction etc. of the PPF Ombudsman

   7. CHAPTER 7 MISCELLANEOUS

      1. Backdating the winding up of eligible schemes

         1. 198. Backdating the winding up of eligible schemes

      2. Pension sharing

         1. 199. Pension sharing

5. PART IV SCHEME FUNDING

   1. Introductory

      1. 200. Pension schemes to which this Part applies

   2. Scheme funding

      1. 201. The statutory funding objective

      2. 202. Statement of funding principles

      3. 203. Actuarial valuations and reports

      4. 204. Certification of technical provisions

      5. 205. Recovery plan

      6. 206. Schedule of contributions

      7. 207. Failure to make payments

      8. 208. Matters requiring agreement of the employer

      9. 209. Matters on which advice of actuary must be obtained

      10. 210. Powers of the Regulator

      11. 210A. Requirements for winding up procedure

   3. Supplementary provisions

      1. 211. Power to modify provisions of this Part

      2. 212. Construction as one with the 1995 Order

6. PART V FINANCIAL PLANNING FOR RETIREMENT

   1. Retirement planning

      1. 213. Supply of housing benefit information

      2. 214. Combined pension forecasts

   2. Employee information and advice

      1. 215. Information and advice to employees

7. PART VI OCCUPATIONAL AND PERSONAL PENSION SCHEMES: MISCELLANEOUS PROVISIONS

   1. Categories of pension scheme

      1. 216. Categories of pension scheme

      2. 217. Meaning of employer in Part II of the 1995 Order

   2. Requirements for member-nominated trustees and directors

      1. 218. Requirement for member-nominated trustees

      2. 219. Requirement for member-nominated directors of corporate trustees

      3. 220. Member-nominated trustees and directors: supplementary

   3. Obligations of trustees of occupational pension schemes

      1. 221. Investment principles

      2. 222. Power to make regulations governing investment by trustees

      3. 223. Borrowing by trustees

      4. 224. Requirement for knowledge and understanding: individual trustees

      5. 225. Requirement for knowledge and understanding: corporate trustees

      6. 225A. Requirement for knowledge and understanding: pension boards of public service pension schemes

      7. 226. Requirement for knowledge and understanding: supplementary

      8. 226A. Requirement for internal controls

      9. 226B. Requirement for internal controls: public service pension schemes

   4. Payment of surplus to employer

      1. 227. Payment of surplus to employer

      2. 228. Payment of surplus to employer: transitional power to amend scheme

   5. Restrictions on payment into occupational pension schemes

      1. 229. UK-based scheme to be trust with effective rules

      2. 230. Non-European scheme to be trust with UK-resident trustee

      3. 231. Representative of non-European scheme to be treated as trustee

   6. Activities of occupational pension schemes

      1. 232. Activities of occupational pension schemes

   7. No indemnification for fines or civil penalties

      1. 233. No indemnification for fines or civil penalties

   8. Pension protection on transfer of employment

      1. 234. Conditions for pension protection

      2. 235. Form of protection

   9. Consultation by employers

      1. 236. Consultation by employers: occupational pension schemes

      2. 237. Consultation by employers: personal pension schemes

      3. 238. Further provisions about regulations relating to consultation

   10. Modification of pension rights

       1. 239. Modification of subsisting rights

   11. Short service benefit

       1. 240. Increase in age at which short service benefit must be payable

   12. Early leavers

       1. 241. Early leavers: cash transfer sums and contribution refunds

   13. Safeguarding pension rights

       1. 242. Paternity leave and adoption leave

       2. 243. Inalienability of occupational pension

   14. Voluntary contributions

       1. 244. Voluntary contributions

   15. Payments by employers

       1. 245. Payments made by employers to personal pension schemes

       2. 246. Payments made by employers and members to occupational pension schemes

   16. Winding up

       1. 247. Winding up

   17. Deficiency in assets of certain occupational pension schemes

       1. 248. Debt due from the employer when assets insufficient

       2. 249. Debt due from the employer in the case of multi-employer schemes

   18. Pension disputes

       1. 250. Resolution of disputes

   19. The Pensions Ombudsman

       1. 251. Deputy Pensions Ombudsman

       2. 252. Jurisdiction

       3. 253. Investigations

   20. Pension compensation

       1. 254. Amendments relating to the Pensions Compensation Board

   21. Annual increases in rate of pensions

       1. 255. Annual increase in rate of certain occupational pensions

       2. 256. Annual increase in rate of certain personal pensions

       3. 257. Power to increase pensions giving effect to pension credits etc.

   22. Revaluation

       1. 258. Exemption from statutory revaluation requirement

   23. Contracting out

       1. 259. Meaning of “working life” in Pension Schemes Act

       2. 260. Power to prescribe conditions by reference to Inland Revenue approval

       3. 261. Restrictions on commutation and age at which benefits may be received

   24. Stakeholder pensions

       1. 262. Meaning of “stakeholder pension scheme”

8. PART VII CROSS-BORDER ACTIVITIES WITHIN EUROPEAN UNION

   1. UK occupational pension scheme receiving contributions from European employer

      1. 263. Occupational pension scheme receiving contributions from European employer

      2. 264. General authorisation to accept contributions from European employers

      3. 265. Approval in relation to particular European employer

      4. 266. Notification of legal requirements of host EEA state outside United Kingdom

      5. 267. Duty of trustees or managers to act consistently with law of host EEA state

      6. 268. Power of Regulator to require ring-fencing of assets

      7. 268A. Exemption from enrolment duty under Part 1 of Pensions ( No. 2) Act (Northern Ireland) 2008

   2. European occupational pension scheme receiving contributions from UK employer

      1. 269. Functions of Regulator in relation to institutions administered in other EEA states

   3. Assistance for other European regulators

      1. 270. Stopping disposal of assets of institutions administered in other EEA states

   4. Interpretation

      1. 271. Interpretation of Part

9. PART VIII STATE PENSIONS

   1. Entitlement to more than one pension

      1. 272. Persons entitled to more than one Category B retirement pension

   2. Deferral of state pension

      1. 273. Deferral of retirement pensions and shared additional pensions

   3. Miscellaneous

      1. 274. Disclosure of state pension information

10. PART IX MISCELLANEOUS AND SUPPLEMENTARY

    1. Dissolution of existing bodies – information

       1. 275. Information obtained by the Regulator

       2. 276. Information obtained by the Board

    2. Electronic working

       1. 277. Notification and documents in electronic form

       2. 278. Timing and location of things done electronically

    3. General

       1. 279. Overriding requirements

       2. 280. Modification of this Order in relation to certain categories of schemes

       3. 281. Modification of pensions legislation that refers to employers

       4. 282. Admissibility of statements

       5. 283. Protected items

       6. 284. Liens

       7. 285. Crown application

    4. Regulations and orders

       1. 286. Breach of regulations

       2. 287. Orders and regulations (general provisions)

       3. 288. Assembly etc. control of orders and regulations

       4. 289. Consultations about regulations

    5. Miscellaneous and supplementary

       1. 290. Minor and consequential amendments

       2. Article 291— Repeals

       3. 292. Transitional adaptations etc.: section 322(1) of the Pensions Act 2004

       4. 293. Power to make further provision in connection with civil partnership

       5. 294. Pre-consolidation amendments

11. SCHEDULES

    1. SCHEDULE 1

       THE PENSIONS REGULATOR

       1. PART 1 DELEGATION

          1. 1. (1) Subject to sub-paragraph (2), the Regulator may authorise— (a) any executive member of the...

          2. 2. (1) The Department may make regulations— (a) limiting the extent to which any of the...

       2. PART 2 FUNDING AND ACCOUNTS

          1. 3. (1) Section 170 of the Pension Schemes Act (levies towards certain expenditure) is amended as...

    2. SCHEDULE 2

       THE RESERVED REGULATORY FUNCTIONS

       1. PART 1 FUNCTIONS UNDER THE PENSION SCHEMES ACT

          1. 1. The power by direction under section 95(4) to grant an extension of the period within...

          2. 2. The power by direction under section 97J(2) to extend the period for compliance with a...

          3. 3. The power under regulations made by virtue of section 164(4) to require a person to...

          4. 3A. A power under section 20H (compliance with conditions of conversion of guaranteed minimum pension).

       2. PART 2 FUNCTIONS UNDER THE 1995 ORDER

          1. 4. The power to make an order under Article 3(1) prohibiting a person from being a...

          2. 5. The power to make an order under Article 3(3) revoking such an order.

          3. 5A. The power under Article 3A(3) to give a notice waiving a prohibition.

          4. 6. The power to make an order under Article 4(1) suspending a trustee.

          5. 7. The power to make an order under Article 4(2) extending the period for which an...

          6. 8. The power to make an order under Article 4(5) revoking an order under Article 4(1)...

          7. 9. The power to make an order appointing a trustee under any of the following provisions...

          8. 10. The power under Article 9 to exercise by order the same jurisdiction and powers as...

          9. 11. The power to require a person to pay a penalty under Article 10 (including under...

          10. 12. The power to make an order under Article 11 directing or authorising an occupational pension...

          11. 13. The power to give directions to trustees under Article 15.

          12. 13A. The duty under Article 23(4), and regulations made thereunder, to compile and maintain a register...

          13. 14. The power under Article 29(5) to give a notice waiving a disqualification under Article 29...

          14. 15. The power under Article 30(2) to exercise by order the same jurisdiction and powers as...

          15. 15A. The power under Article 58(7) to extend or further extend the period referred to in...

          16. 15B. The power under Article 60(7) to extend or further extend the period applicable under Article...

          17. 16. The power to make an order under Article 67G(2) by virtue of which any modification...

          18. 17. The power to make an order under Article 67H(2) prohibiting, or specifying steps to be...

          19. 18. The power to make an order under Article 69 authorising the modification of an occupational...

          20. 19. The power to make an order under Article 71A modifying an occupational pension scheme with...

       3. PART 3 FUNCTIONS UNDER THE 1999 ORDER

          1. 20. The power by direction under Article 4(3)(b) to remove a scheme from the register of...

       4. PART 4 FUNCTIONS UNDER THIS ORDER

          1. 21. The power to make or extend a restraining order under Article 16.

          2. 22. The power to make an order under Article 16(10) permitting payments out of an account...

          3. 23. The power to make a repatriation order under Article 17.

          4. 24. The power to make a freezing order under Article 19.

          5. 25. The power to make an order under Article 21(3) extending the period for which a...

          6. 26. The power to make an order under Article 22 validating action taken in contravention of...

          7. 27. The power to make an order under Article 24 directing that specified steps are taken.

          8. 28. The power to make an order under Article 26 giving a direction where a freezing...

          9. 29. The power to make an order under Article 27(3) directing the notification of members.

          10. 30. The power to issue a contribution notice under Article 34.

          11. 30A. The power to issue a direction under Article 35A(6) to any person.

          12. 31. The power to issue a direction under Article 37(4) to the trustees or managers of...

          13. 32. The power to issue a revised contribution notice under Article 37(9).

          14. 33. The power to issue a financial support direction under Article 39.

          15. 33A. The power to issue a direction under Article 39A(3) to any person.

          16. 34. The power to issue a contribution notice under Article 43.

          17. 35. The power to issue a direction under Article 46(4) to the trustees or managers of...

          18. 36. The power to issue a revised contribution notice under Article 46(9).

          19. 37. The power to make a restoration order under Article 48.

          20. 38. The power to issue a contribution notice under Article 51.

          21. 39. The power to issue a notice under Article 66 requiring a report to be provided...

          22. 40. The power to make a direction under Article 71(8) extending the retention period for documents...

          23. 41. The power to make a direction under Article 73(10) extending the retention period for documents...

          24. 42. The power to make an order under Article 210 modifying a scheme, giving directions or...

          25. 43. The power to issue a ring-fencing notice under Article 268.

          26. 44. The power to vary or revoke under Article 96— (a) a determination made by the...

       5. PART 5 OTHER FUNCTIONS

          1. 45. The power to make an order under regulation 19 of the Occupational and Personal Pension...

    3. SCHEDULE 3

       RESTRICTED INFORMATION HELD BY THE REGULATOR: CERTAIN PERMITTED DISCLOSURES TO FACILITATE EXERCISE OF FUNCTIONS

    4. SCHEDULE 4

       THE BOARD OF THE PENSION PROTECTION FUND

       1. 1. (1) Subject to sub-paragraph (2), the Board may authorise— (a) any executive member of the...

       2. 2. (1) The Board may make arrangements for any of its functions mentioned in sub-paragraph (2)...

       3. 3. (1) Where the Board makes arrangements under paragraph 2(1) for any of its functions to...

    5. SCHEDULE 5

       TRANSFER OF PROPERTY, RIGHTS AND LIABILITIES TO THE BOARD

       1. 1. This Schedule applies where the property, rights and liabilities of an occupational pension scheme are...

       2. 2. (1) Subject to sub-paragraph (2), the property, rights and liabilities so transferred include— (a) property,...

       3. 3. (1 ) Without prejudice to the generality of Article 145 and subject to sub-paragraph (2),...

       4. 4. The transfer is binding on all persons, even if, apart from this paragraph, it would...

       5. 5. No person shall have any power, in consequence of the transfer, to terminate or modify...

       6. 6. Any reference in any agreement, document or instrument of any description to the trustees or...

       7. 7. (1) The Board must take all such steps as may be required to secure that...

    6. SCHEDULE 6

       PENSION COMPENSATION PROVISIONS

       1. Introductory

          1. 1. This Schedule applies for the purposes of determining the compensation payable where the Board assumes...

          2. 2. In this Schedule references to “the assessment date” are to the date on which the...

       2. Pensions in payment at assessment date

          1. 3. (1) Compensation is payable in accordance with this paragraph where, immediately before the assessment date,...

          2. 4. (1) This paragraph applies where— (a) the pensioner dies on or after the assessment date,...

       3. Pension benefits postponed at assessment date

          1. 5. (1) Compensation is payable in accordance with this paragraph where immediately before the assessment date—...

          2. 6. (1) This paragraph applies where the postponed pensioner— (a) dies on or after the assessment...

          3. 7. (1) Compensation is payable in accordance with this paragraph where immediately before the assessment date—...

       4. Active members over normal pension age at assessment date

          1. 8. (1) Compensation is payable in accordance with this paragraph where a person who, under the...

          2. 9. (1) This paragraph applies where the active member dies on or after the assessment date....

          3. 10. (1) Compensation is payable in accordance with this paragraph where an active member of the...

       5. Active members who have not attained normal pension age at assessment date

          1. 11. (1) Compensation is payable in accordance with this paragraph where a person who, under the...

          2. 12. (1) This paragraph applies for the purposes of paragraph 11(4)(b). (2) The revaluation period is...

          3. 13. (1) This paragraph applies where the active member dies on or after the assessment date....

          4. 14. (1) Compensation is payable in accordance with this paragraph where immediately before the assessment date,...

       6. Deferred members who have not attained normal pension age at assessment date

          1. 15. (1) Compensation is payable in accordance with this paragraph where, under the admissible rules of...

          4. 16. (1) This paragraph applies for the purposes of paragraph 15(4)(b). (2) The first revaluation period...

          5. 17. (1) This paragraph applies for the purposes of paragraph 15(4)(c). (2) The second revaluation period...

          6. 18. (1) This paragraph applies where— (a) the deferred member dies on or after the assessment...

          7. 19. (1) Compensation is payable in accordance with this paragraph where, under the admissible rules of...

       7. Compensation in respect of scheme right to transfer payment or contribution refund

          1. 20. (1) Compensation is payable in accordance with this paragraph where— (a ) a person's pensionable...

       8. Pension credit members who have not attained normal benefit age at assessment date

          1. 21. (1) This paragraph applies to a person who— (a) is a pension credit member of...

          2. 21A. (1) This paragraph applies to a person who— (a) is a pension credit member of...

       9. Survivors who do not meet conditions for scheme benefits at assessment date

          1. 22. (1) Compensation is payable in accordance with this paragraph where— (a) a member of the...

       10. Compensation in form of dependants' benefits

           1. 23. (1) Regulations may provide for compensation to be payable, in such circumstances as may be...

       11. Effect of discharge of liability during or immediately before assessment period

           1. 23A. (1) This paragraph applies if— (a) at any time during the assessment period in relation...

       12. Commutation of periodic compensation

           1. 24. (1) In prescribed circumstances, a person entitled to periodic compensation under paragraph 5, 8, 11...

       13. Early payment of compensation

           1. 25. (1) Regulations may prescribe circumstances in which, and conditions subject to which, a person may...

       14. Postponement of compensation

           1. 25A. (1) Regulations may prescribe circumstances in which, and conditions subject to which— (a) a person...

       15. Terminal illness lump sum: eligibility

           1. 25B. (1) This paragraph applies to a person in relation to whom all of the following...

       16. Terminal illness lump sum: application

           1. 25C. An application for a terminal illness lump sum— (a) must be made in writing, either...

       17. Terminal illness lump sum: determination of application

           1. 25D. (1) The Board must determine an application for a terminal illness lump sum in accordance...

       18. Terminal illness lump sum: effect of successful application

           1. 25E. (1) If the Board grants an application for a terminal illness lump sum, the applicant—...

       19. Terminal illness lump sum: information

           1. 25F. (1) Relevant information held by the Department or the Secretary of State about an individual...

       20. Compensation cap

           1. 26. (1) Where— (a) a person becomes entitled to relevant compensation in respect of a benefit...

       21. Increasing the compensation cap in line with earnings

           1. 27. Where, pursuant to paragraph 27 of Schedule 7 to the Pensions Act 2004, the Secretary...

       22. Annual increase in periodic compensation

           1. 28. (1) This paragraph provides for the increases mentioned in sub-paragraph (3)(b) of paragraphs 3, 5,...

       23. Board's powers to alter rates of revaluation and indexation

           1. 29. (1) The Board may determine what is to be the higher maximum revaluation rate or...

       24. Department's powers to vary percentage paid as compensation

           1. 30. (1) The Department may, on the recommendation of the Board, by order provide that any...

       25. Special provision in relation to certain pensions in payment before the assessment date

           1. 31. (1) The powers conferred by this paragraph are exercisable in relation to cases where— (a)...

       26. Short periods of service which terminate on commencement of assessment period

           1. 32. (1) This paragraph applies to a member of the scheme if— (a ) his pensionable...

       27. Power to modify Schedule in its application to certain schemes

           1. 33. Where the scheme is a prescribed scheme or a scheme of a prescribed description, this...

       28. Normal pension age

           1. 34. (1) In this Schedule “normal pension age”, in relation to the scheme and any pension...

       29. Scheme rules, admissible rules etc.

           1. 35. (1) In this Schedule, in relation to the scheme, each of the following expressions has...

       30. Accrual rate, pensionable service and pensionable earnings

           1. 36. (1) In this Schedule, in relation to a member's entitlement to benefits under the scheme,...

       31. Other definitions

           1. 37. (1 ) In this Schedule— “deferred member”, in relation to the scheme, means a person...

    7. SCHEDULE 7

       RESTRICTED INFORMATION HELD BY THE BOARD: CERTAIN PERMITTED DISCLOSURES TO FACILITATE EXERCISE OF FUNCTIONS

    8. SCHEDULE 8

       REVIEWABLE MATTERS

       1. 1. The issue of a determination notice under Article 107 approving a notice issued under Article...

       2. 2. The failure to issue a determination notice under Article 107.

       3. 3. The issue of, or failure to issue, a notice under Article 106 by the Board...

       4. 3A. The issue of, or failure to issue, a validation notice under regulation 2(5) of the...

       5. 3B. The provision of information by the Board under— (a) regulation 3(2) of the Pension Protection...

       6. 4. The issue of, or failure to issue— (a) a scheme failure notice under paragraph (2)...

       7. 5. Any direction given under paragraph (2) of Article 118 (directions during an assessment period) or...

       8. 6. The issue of a notice under Article 120(2) (power to validate contraventions of Article 119).

       9. 7. The making of a loan under Article 123(2) (loans to pay scheme benefits), the amount...

       10. 7A. Any determination by the Board under Article 125(2) (determination on a review of an ill...

       11. 7B. A notice under Article 127(2A) (whether Board will make a determination or obtain an actuarial...

       12. 7C. The failure by the Board either to— (a) make a determination under Article 127(2)(a), or...

       13. 7D. A determination by the Board under Article 127(2)(a) (whether condition in Article 111(2)(a) or Article...

       14. 9. The approval of, or failure to approve, a valuation in respect of an eligible scheme...

       15. 10. The issue of, or failure to issue, a withdrawal notice under or by virtue of—...

       16. 11. The issue of, or failure to issue, a withdrawal notice under Article 132 (no insolvency...

       17. 12. The issue of, or failure to issue, a determination notice under Article 136(3) (whether value...

       18. 13. The issue of, or failure to issue, a determination notice under Article 137(6) (authorisation to...

       19. 14. Any direction given under Article 138(7) (directions about winding up of scheme with sufficient assets...

       20. 14A. A notice under Article 142(3A) (whether Board will make a determination or obtain an actuarial...

       21. 14B. The failure by the Board either to— (a) make a determination under Article 142(3)(a), or...

       22. 14C. A determination by the Board under Article 142(3)(a) (whether condition in Article 142(1) satisfied).

       23. 15. The failure by the Board to give a transfer notice under Article 144.

       24. 16. Any determination by the Board of a person's entitlement to compensation under the pension compensation...

       25. 16A. Any step taken by the Board under Article 147(4)(a) (adjustments to be made where Board...

       26. 16B. Any determination by the Board, or the failure to make a determination, under regulation 6(2)...

       27. 16C. Any determination by the Board of a person’s entitlement to compensation under Chapter 1 of...

       28. 16D. A determination by the Board that any right of a person to PPF compensation is...

       29. 16E. A determination by the Board that the implementation period for a pension compensation credit (within...

       30. 16F. The recovery of a charge from a person under regulation 16 of the Pension Protection...

       31. 16G. Any determination by the Board, or the failure to make a determination, under regulation 53(1)...

       32. 16H. Any determination by the Board, or the failure to make a determination, under regulation 54(2)...

       33. 16I. Any direction given by the Board, or the failure to give a direction, under regulation...

       34. 17. Any failure by the Board to make a payment required by Article 147(4)(b) (adjustments to...

       35. 17A. The making of a payment under Article 150(2) (amount of any pensions or other benefits...

       36. 17B. Any determination made by the Board under regulation 16(2) or (5)(b) of the Pension Protection...

       37. 18. Any determination by the Board under Article 164(3)(a) (the eligible schemes in respect of which...

       38. 19. The amount of the initial levy or any pension protection levy payable in respect of...

       39. 19A. Any determination by the Board of an application for the grant of a waiver under...

       40. 19B. Any determination by the Board under regulation 19A(7) or (8) of the Pension Protection Fund...

       41. 20. The making of a fraud compensation payment under Article 165(1), the amount of any such...

       42. 21. The issue of, or failure to issue, a notice under Article 166(2) (scheme rescue not...

       43. 22. Any settlement date determined by the Board under Article 167(2) (recovery of value) or the...

       44. 23. Any determination by the Board under Article 167(4) (recovery of value: whether amount received in...

       45. 24. The making of a payment under Article 169(1) (interim payments), the amount of any such...

       46. 25. Any term or condition imposed by the Board— (a) under Article 168(2) on the making...

       47. 26. Any determination by the Board under Article 169(3)(b) (interim payments) that the amount of a...

       48. 27. Any date determined by the Board under Article 170(4) (earliest date for making a fraud...

       49. 28. Any determination by the Board under Article 170(6) (fraud compensation transfer payments: whether payment is...

       50. 29. Any determination by the Board under Article 171(7)(a) (occupational pension schemes in respect of which...

       51. 30. The amount of any fraud compensation levy payable in respect of an occupational pension scheme...

    9. Schedule 9— Amendments

    10. Schedule 10 —Amendments

    11. Schedule 11—Repeals