The Pension Protection Fund and Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2016

Amendment of regulation 2

8.—(1) In regulation 2(1) (interpretation) after the definition of “transferrable rights”(1) insert—

““unfunded public service defined benefits scheme” has the meaning given in section 91(2C) of the 1993 Act(2);”.

(2) In regulation 2(1A)(3) (interpretation) for sub-paragraph (a) substitute—

“(a) a member has an opportunity to transfer flexible benefits where—

(i) the member—

(aa) has transferrable rights in relation to flexible benefits, or

(bb) would have transferrable rights in relation to flexible benefits if the member stopped accruing rights to some or all of the flexible benefits (see sub-paragraph (b)),

and the making of a transfer or transfer payment in respect of the flexible benefits is not prohibited by Article 119(4)(a) of the 2005 Order(4), or

(ii) the member has an opportunity to transfer accrued rights to flexible benefits out of the scheme under the scheme rules;”.

(1)

The definition of “transferrable rights” was inserted by regulation 3(1)(i) of S.R. 2015 No. 154

(2)

1993 c.48; section 91(2C) was inserted by section 71(3) of the Pension Schemes Act 2015 (c. 8)

(3)

Paragraph (1A) was inserted by regulation 3(2) of S.R. 2015 No. 154

(4)

S.I. 2005/255 (N.I. 1)