Pension Schemes (Northern Ireland) Act 1993 (c. 49)

Part III N.I. Certification of Pension Schemes and Effects on Members’ State Scheme Rights and Duties

Modifications etc. (not altering text)

C1 Pt. 3: power to modify conferred (1.6.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 146(1); S.R. 1996/91, art. 2(f); S.R. 1997/192, art. 2

Pt. 3: power to transfer functions conferred (1.4.1999) by 1999 c. 2, s. 23(1)(2)(6); S.I. 1999/527, art. 2(b), Sch. 2

Chapter I N.I. Certification

Requirements for certification of occupational pension schemes providing guaranteed minimum pensions N.I.

17 Commutation, surrender and forfeiture. N.I.

(1) Where the annual rate of a pension required to be provided by a scheme in accordance with section 9 or 13 would not exceed the prescribed amount and the circumstances are such as may be prescribed, the scheme may provide for the payment of a lump sum instead of that pension.

(2) Neither section 9 nor section 13 shall preclude a scheme from providing for the earner’s or the earner’s widow’s or widower’s guaranteed minimum pension to be suspended or forfeited in such circumstances as may be prescribed.