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The Occupational Pension Schemes (Contracting-out) (Amount Required for Restoring State Scheme Rights and Miscellaneous Amendment) Regulations (Northern Ireland) 1998
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- Northern Ireland Statutory Rules
- 1998 No. 208
- Regulation 2
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Determination of the amount required for restoring State scheme rights
2. For the purposes of paragraph 5(3A) to (3E) of Schedule 1 to the Act, the amount required for restoring State scheme rights in relation to a member of a contracted-out occupational pension scheme which is being wound up shall be—
(a)in a case where the prescribed person may elect under section 51(2) of the Act(1) to pay a contributions equivalent premium, the amount of that premium calculated in accordance with section 54(4) of the Act, and
(b)in any other case, the amount calculated in accordance with regulation 3.
(1)
Section 51(2) was substituted by Article 138(1) of the Pensions (Northern Ireland) Order 1995
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