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Pension Schemes (Northern Ireland) Act 1993

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Pension Schemes (Northern Ireland) Act 1993, Section 97P is up to date with all changes known to be in force on or before 13 August 2024. 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

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Changes and effects yet to be applied to Section 97P:

  • specified provision(s) amendment to savings in S.R. 2016/106 for effects of 2015 c. 5 (N.I.), Sch. 13 by S.R. 2016/162 art. 5
  • specified provision(s) savings for effects of 2015 c. 5 (N.I.), Sch. 13 by S.R. 2016/106 art. 2

Changes and effects yet to be applied to the whole Act associated Parts and Chapters:

Whole provisions yet to be inserted into this Act (including any effects on those provisions):

[F197P Interpretation of Chapter II.N.I.

(1)In this Chapter—

  • [F2category”, in relation to benefits, has the meaning given by section 97F(6B);]

  • “eligible member”, in relation to a qualifying scheme, means a member who has pension credit rights under the scheme;

  • [F2flexible benefit” has the meaning given by section 74 of the Pension Schemes Act 2015;]

  • “normal benefit age”, in relation to an eligible member of a qualifying scheme, means the earliest age at which the member is entitled to receive a pension by virtue of his pension credit rights under the scheme (disregarding any scheme rule making special provision as to early payment of pension on grounds of ill-health or otherwise);

  • F3...

  • “pension credit rights”, in relation to a qualifying scheme, means rights to future benefits under the scheme which are attributable (directly or indirectly) to a pension credit;

  • “qualifying scheme” means a funded occupational pension scheme and a personal pension scheme;

  • “transfer notice” has the meaning given by section 97F(7).

F4(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)In this Chapter, references to the relevant statement under section 97H, in relation to a transfer notice [F5in relation to benefits other than money purchase benefits], are to the statement under that section on which the giving of the notice depended.

(4)For the purposes of this section, an occupational pension scheme is funded if it meets its liabilities out of a fund accumulated for the purpose during the life of the scheme.]

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

F2Words in s. 97P(1) inserted (6.4.2015) by Pension Schemes Act 2015 (c. 8), s. 89(3)(b), Sch. 4 para. 67(2) (with s. 87)

F3Words in s. 97P(1) omitted (6.4.2015) by virtue of Pension Schemes Act 2015 (c. 8), s. 89(3)(b), Sch. 4 para. 67(3) (with s. 87)

F4S. 97P(2) omitted (6.4.2015) by virtue of Pension Schemes Act 2015 (c. 8), s. 89(3)(b), Sch. 4 para. 67(4) (with s. 87)

F5Words in s. 97P(3) substituted (6.4.2015) by Pension Schemes Act 2015 (c. 8), s. 89(3)(b), Sch. 4 para. 67(5) (with s. 87)

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