- Draft legislation
This is a draft item of legislation. This draft has since been made as a Northern Ireland Statutory Rule: The Judicial Pensions Regulations (Northern Ireland) 2015 No. 76
131. This Part—
(a)supplements the rights conferred by or under Chapter 4 of Part 4 (transfer values) of the 1993 Act and is without prejudice to that Chapter; and
(b)supplements the rights conferred by or under Chapter 5 of that Part(1) (early leavers: cash transfer sums and contribution refunds) and is without prejudice to that Chapter.
132. In this Part—
“cash equivalent” means an amount calculated in accordance with regulations made under section 93 (calculation of cash equivalents) of the 1993 Act(2);
“guarantee date” has the meaning given in regulation 135;
“guaranteed cash equivalent” means, in relation to calculating the transfer value of accrued rights to benefits under this scheme, the cash equivalent of those benefits as at the guarantee date, as specified in a statement of entitlement;
“statement of entitlement” means, in relation to an active or deferred member’s accrued rights to benefits under this scheme, a statement by the scheme manager of the cash equivalent of those benefits as at the guarantee date;
“transfer value” means—
for accrued rights to benefits under this scheme, an amount equal to—
the guaranteed cash equivalent of those benefits; or
the guaranteed cash equivalent together with any increase payable under regulation 137; and
for accrued rights to benefits under another pension scheme, an amount—
determined by the scheme actuary of that scheme; and
specified in a statement of accrued rights provided by the scheme manager of that scheme.
Chapter 5 of Part 4 of the Pension Schemes (Northern Ireland) Act 1993 was inserted by the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)) Article 241.
Section 93 was amended by the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I.22)) Article 165 Schedule 4 paragraph 6 and the Child Support, Pensions and Social Security Act (Northern Ireland) 2000 (c.14) (N.I.) section 52 and Schedule 5 paragraph 5.
The Whole Rule you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Rule you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Rule you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Draft Explanatory Memorandum sets out a brief statement of the purpose of a Draft Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Draft Statutory Rule accessible to readers who are not legally qualified and accompany any Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: