C1C2PART IIIPENSIONS: GENERAL
Pt. III (arts. 10-17) power to modify conferred (15.12.2008) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), ss. 115(2)(c), 118(2)(g)
Pensions and bankruptcy
No forfeiture on bankruptcy of rights under pension schemes14
1
In the Pension Schemes Act, after section 155 there shall be inserted—
No forfeiture on bankruptcy of rights under personal pension schemes.155A
1
A person's rights under a personal pension scheme cannot be forfeited by reference to his bankruptcy.
2
For the purposes of this section—
a
a person shall be treated as having a right under a personal pension scheme where—
i
he is entitled to a credit under Article 26(1)(b) of the Welfare Reform and Pensions (Northern Ireland) Order 1999 (sharing of rights on divorce etc.),
ii
he is so entitled as against the person responsible for the scheme (within the meaning of Chapter I of Part V of that Order), and
iii
the person so responsible has not discharged his liability in respect of the credit; and
b
forfeiture shall be taken to include any manner of deprivation or suspension.
2
In Article 90(2) of the Pensions Order (exceptions to the rule preventing forfeiture of rights under occupational pension schemes), sub-paragraph (b) (which allows forfeiture of such rights by reference to a scheme member's bankruptcy) shall cease to have effect.
Pt. III (arts. 10-17) power to modify conferred (6.4.2006) by Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)), arts. 1(2), 294(d); S.R. 2006/95, art. 2(c), Sch. Pt. 3