Pension Schemes (Northern Ireland) Act 1993

92 Further provisions concerning exercise of option under s. 91.N.I.

(1)A member may exercise the option conferred by subsection (1) of section 91 in different ways in relation to different portions of his cash equivalent, but a member who exercises that option must do so—

(a)in relation to the whole of his cash equivalent; or

(b)if subsection (2) applies, in relation to the whole of the balance mentioned in subsection (3).

(2)This subsection applies where—

(a)the trustees or managers—

(i)of an occupational pension scheme which is not a contracted-out scheme, or

(ii)of a personal pension scheme F1..., F2...

F2(iii). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

are able or willing to accept a transfer payment only in respect of a member’s rights other than his accrued rights to guaranteed minimum pensions [F3his accrued rights so far as attributable to service in contracted-out employment on or after the principal appointed day] F4...; and

(b)the member has not required the trustees or managers of the scheme from which he is being transferred to use the portion of his cash equivalent which represents those accrued F5... rights in any of the ways specified in subsection (2) or, as the case may be, subsection (3) of section 91.

(3)Where subsection (2) applies this section and sections 90, 91 and 93 are to be construed as conferring on the member an option only in respect of the balance of the cash equivalent to which the member would otherwise be entitled, after deduction of an amount sufficient for the trustees or managers of the scheme from which he is being transferred to meet their liability—

(a)in the case of a transfer from an occupational pension scheme, in respect of the member’s and the member’s [F6widow's, widower’s or surviving civil partner’s (as the case may be)] [F7pensions, being guaranteed minimum pensions or pensions so far as attributable to service in contracted-out employment on or after the principal appointed day] F8... ; F9...

F10(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F11(4)Where a member of an occupational pension scheme or a personal pension scheme—

(a)is entitled to give a notice under section 97F(1) to the trustees or managers of the scheme, or

(b)would be entitled to do so, but for section 97G(1),

he may not, if the scheme so provides, make an application to them under section 91 unless he also gives them a notice under section 97F(1).]

Textual Amendments

F2S. 92(2)(a)(iii) and the preceding word “or” ceased to have effect (1.12.1999 for certain purposes only) by S.I. 1999/3147 (N.I. 11), arts. 1(5)(a), 17, Sch. 2 para. 2(2)(b) (with transitional provisions in art. 75(1)(2)) and repealed (25.4.2000) by S. I. 1999/3147, art. 17, Sch. 10 Pt. I; S.R. 2000/133, art. 2(3), Sch. Pt. II

F3Words in s. 92(2)(a) inserted (6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 147, Sch. 3 para. 53(a); S.R. 1997/192, art. 2(b)

F7Words in s. 92(3)(a) substituted (6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 147, Sch. 3 para. 53(b); S.R. 1997/192, art. 2(b)