SCHEDULEMiscellaneous Amendments
Amendment of the Occupational Pension Schemes (Preservation of Benefit) Regulations
3.
(1)
The Occupational Pension Schemes (Preservation of Benefit) Regulations (Northern Ireland) 199111 shall be amended in accordance with sub-paragraphs (2) and (3).
(2)
In regulations 6(2)(b) and 9(4)(a) for “regulation 2 of the Occupational Pension Schemes (Discharge of Liability) Regulations (Northern Ireland) 1985” there shall be substituted “regulation 3 of the Occupational Pension Schemes (Discharge of Liability) Regulations (Northern Ireland) 199712”.
(3)
In regulation 12(3)13—
(a)
in sub-paragraph (a) after “favourable” there shall be inserted “and, if that scheme were wound up immediately after the transfer, would not be likely to be materially less secure than they would be if the transferring scheme were wound up immediately before the transfer”; and
(b)
after sub-paragraph (a) there shall be inserted the following sub-paragraph—
“(aa)
no beneficiary or contingent beneficiary under the transferring scheme will receive materially inferior benefits in the receiving scheme; and”.