Search Legislation

The Pensions (Northern Ireland) Order 2005

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Cross Heading: Activities of occupational pension schemes

 Help about opening options

Alternative versions:

Status:

Point in time view as at 01/01/2006.

Changes to legislation:

The Pensions (Northern Ireland) Order 2005, Cross Heading: Activities of occupational pension schemes is up to date with all changes known to be in force on or before 06 March 2025. 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. Help about Changes to Legislation

Activities of occupational pension schemesN.I.

Activities of occupational pension schemesN.I.

232.—(1) If an occupational pension scheme has its main administration in the United Kingdom, the trustees or managers of the scheme must secure that the activities of the scheme are limited to retirement-benefit activities.

(2) Paragraph (1) does not apply to a scheme if it is a prescribed scheme or a scheme of a prescribed description.

(3) Article 10 of the 1995 Order (civil penalties) applies to a trustee or manager of a scheme to which paragraph (1) applies if—

(a)the scheme has activities that are not retirement-benefit activities, and

(b)the trustee or manager has failed to take all reasonable steps to secure that the activities of the scheme are limited to retirement-benefit activities.

(4) In this Article “retirement-benefit activities” means—

(a)operations related to retirement benefits, and

(b)activities arising from operations related to retirement benefits.

(5) In paragraph (4) “retirement benefits” means—

(a)benefits paid by reference to reaching, or expecting to reach, retirement, and

(b)benefits that are supplementary to benefits within sub-paragraph (a) and that are provided on an ancillary basis—

(i)in the form of payments on death, disability or termination of employment, or

(ii)in the form of support payments or services in the case of sickness, poverty or need, or death.

Back to top

Options/Help

You have chosen to open The Whole Order without Schedules

The Whole Order without Schedules 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?

You have chosen to open The Whole Order without Schedules as a PDF

The Whole Order without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?