Pension Schemes (Northern Ireland) Act 1993, Section 126 is up to date with all changes known to be in force on or before 04 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.
It is hereby declared that—
(a)nothing in Part III precludes an occupational pension scheme from providing benefits that are more favourable than those required for contracting-out purposes and, in particular, nothing in section 12(3) is to be taken as preventing the scheme from providing increases above the alternative minima there mentioned; and
(b)nothing in the provisions of [F1Chapter 2 of Part 4 or Chapter 1 or 2 of Part 4ZA] precludes a scheme from being framed or managed more favourably to beneficiaries than is called for by those provisions.
Textual Amendments
F1Words in s. 126(b) substituted (6.4.2015) by Pension Schemes Act 2015 (c. 8), s. 89(3)(b), Sch. 4 para. 70 (with s. 87)
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