The Pension Protection Fund (General and Miscellaneous Amendments) Regulations (Northern Ireland) 2006

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1. Introductory Text

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   PART 1 Preliminary

   1. 1. Citation, commencement and interpretation

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   PART 2 Assumption of responsibility

   1. 2. Board’s power to modify relevant contracts

   2. 3. Power to treat benefits as having become payable before the assessment date

   3. 4. Power to treat benefits as having arisen before the assessment date

   4. 4A. Power to pay certain transfer payments and contribution refunds

   5. 5. Interest on overpayments and underpayments created during the assessment period

   6. 6. Circumstances where the Board is not required to recover overpaid scheme benefits

   7. 7. Manner of discharge of liabilities in respect of money purchase benefits

   8. 8. Further provision for discharge of liabilities in respect of money purchase benefits

   9. 9. Trivial commutation

   10. 9A. PPF money purchase lump sums

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   PART 3 Equal treatment

   1. 10. Exemption from requirement to modify payment function

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   PART 4 PPF compensation administration

   1. 11. Manner in which and time when PPF compensation is to be paid

   2. 12. Method of payment

   3. 13. Payment of periodic compensation by instalments

   4. 14. Fractional amounts in the calculation of periodic compensation payments

   5. 15. Payments of PPF compensation to a third party

   6. 16. Recovery of PPF compensation overpayments

   7. 17. Underpayments

   8. 18. Suspension of payment of periodic compensation

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   PART 5 Pension protection levy

   1. 19. Collection of the pension protection levy by instalments

   2. 19A. Interest for late payment of the pension protection levy

   3. 20. Schemes that are eligible schemes for part of a financial year

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   PART 6 Miscellaneous amendments

   1. 21. Amendment of the Pension Protection Fund (Entry Rules) Regulations

   2. 22. Amendment of the Pension Protection Fund (Compensation) Regulations

   3. 23. Amendment of the Pension Protection Fund (Valuation) Regulations

8. Signature

9. Explanatory Note