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Pension Schemes (Northern Ireland) Act 1993

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Changes over time for: Section 97G

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Version Superseded: 03/03/2015

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Status:

Point in time view as at 18/04/2005. This version of this provision has been superseded. Help about Status

Changes to legislation:

Pension Schemes (Northern Ireland) Act 1993, Section 97G is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

[F197G Restrictions on power to give transfer notice.N.I.

(1)In the case of a salary related occupational pension scheme, the power to give a transfer notice may only be exercised if—

(a)the member has been provided with a statement under section 97H, and

(b)not more than 3 months have passed since the date by reference to which the amount shown in the statement is determined.

(2)The power to give a transfer notice may not be exercised in the case of an occupational pension scheme if—

(a)there is less than a year to go until the member reaches normal benefit age, or

(b)the pension to which the member is entitled by virtue of his pension credit rights, or benefit in lieu of that pension, or any part of it has become payable.

(3)Where an eligible member of a qualifying scheme—

(a)is entitled to make an application under section 91 to the trustees or managers of the scheme, or

(b)would be entitled to do so, but for the fact that he has not received a statement under section 89A in respect of which the guarantee date is sufficiently recent,

he may not, if the scheme so provides, exercise the power to give them a transfer notice unless he also makes an application to them under section 91.

(4)The power to give a transfer notice may not be exercised if a previous transfer notice given by the member to the trustees or managers of the scheme is outstanding.]

Textual Amendments

F1Pt. 4A Chapters 1, 2 (ss. 97A-97Q) inserted (1.12.1999 for certain purposes and otherwise 1.12.2000) by S.I. 1999/3147 (N.I. 11), arts. 1(5)(a), 34; S.R. 2000/133, art. 2(3), Sch. Pt. IV

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