SCHEDULES

SCHEDULE 4ABOLITION OF CONTRACTING-OUT FOR DEFINED CONTRIBUTION PENSION SCHEMES

PART 1AMENDMENTS HAVING EFFECT AS FROM ABOLITION DATE

The Welfare Reform and Pensions (Northern Ireland) Order 1999 (NI 11)

37

In Article 3 of the Welfare Reform and Pensions (Northern Ireland) Order 1999 (meaning of “stakeholder pension scheme”)—

(a)

in paragraph (1) in sub-paragraph (a) for “to (10)” substitute “ to (9) ”;

(b)

omit paragraph (10) (stakeholder pension scheme must be contracted-out).

38

In Article 4 of that Order (registration of stakeholder pension schemes) in paragraph (2) (when Authority to register schemes) in sub-paragraph (b)(i), for “to (10)” substitute “ to (9) ”.

39

In Schedule 5 to that Order (pension credits: mode of discharge) in paragraph 7(6) (disqualification as destination for pension credit) in the definition of “contracted-out rights”—

(a)

in paragraph (a) omit “or (3)”;

(b)

after paragraph (a) insert—

“(ab)

an occupational pension scheme constituting a money purchase contracted-out scheme for the purposes of that Act, or”;

(c)

in paragraph (b) for “which is” substitute “ constituting ”.