SCHEDULES
SCHEDULE 5PENSION COMPENSATION ON DIVORCE ETC.
PART 1AMENDMENTS OF THE MATRIMONIAL CAUSES (NORTHERN IRELAND) ORDER 1978
2
After Article 23A (pension sharing orders) insert—
Pension compensation sharing orders23B
1
For the purposes of this Order, a pension compensation sharing order is an order which—
a
provides that one party's shareable rights to PPF compensation that derive from rights under a specified pension scheme are to be subject to pension compensation sharing for the benefit of the other party, and
b
specifies the percentage value to be transferred.
2
In paragraph (1)—
a
the reference to shareable rights to PPF compensation is to rights in relation to which pension compensation sharing is available under Chapter 1 of Part 3 of the Pensions (No. 2) Act (Northern Ireland) 2008 or under Chapter 1 of Part 3 of the Pensions Act 2008;
b
“party” means a party to a marriage;
c
“specified” means specified in the order.
Pension compensation: interpretation23C
In this Part—
“PPF compensation” means compensation payable under the pension compensation provisions;
“the pension compensation provisions” means—
- a
Chapter 3 of Part 3 of the Pensions (Northern Ireland) Order 2005 (pension protection) and any regulations or order made under it,
- b
Chapter 1 of Part 3 of the Pensions (No. 2) Act (Northern Ireland) 2008 (pension compensation on divorce etc.) and any regulations or order made under it, and
- c
any provision corresponding to the provisions mentioned in paragraph (a) or (b) in force in Great Britain.