- Latest available (Revised)
- Point in Time (01/01/2006)
- Original (As made)
Point in time view as at 01/01/2006.
The Pensions (Northern Ireland) Order 1995, Section 38 is up to date with all changes known to be in force on or before 18 August 2024. 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.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
38.—(1) If, apart from this Article, the rules of a trust scheme would require the scheme to be wound up, the trustees may determine
[F1(a)that the scheme is not for the time being to be wound up but that no new members are to be admitted to it, or
(b)that the scheme is not for the time being to be wound up but that no new members, except pension credit members, are to be admitted to it.]
.
(2) Where the trustees make a determination under paragraph (1), this may also determine—
(a)that no further contributions are to be paid towards the scheme[F2 (other than those due to be paid before the determination is made)], or
(b)that noF2. . . benefits are to accrue to, or in respect of, members of the scheme;
F1. . . .
[F1(2A) Paragraph (2) does not authorise the trustees to determine—
(a)where there are accrued rights or pension credit rights to any benefit, that the benefit is not to be increased, or
(b)where the power conferred by that paragraph is exercisable by virtue of a determination under paragraph (1)(b), that members of the scheme may not acquire pension credit rights under it.]
(3) This Article does not apply to—
(a)a money purchase scheme, or
(b)a scheme falling within a prescribed class or description.
[F2(4) This Article also does not apply in relation to a trust scheme where the trustees are required to wind up, or continue the winding up of, the scheme under Article 138(1) of the Pensions (Northern Ireland) Order 2005 (requirement to wind up certain schemes with sufficient assets to meet protected liabilities).]
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.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.