Print Options
PrintThe Whole
Rule
PrintThe Whole
Part
PrintThe Whole
Chapter
PrintThis
Section
only
Status:
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
Discharge of liability for pension credit rights
133.—(1) The Committee may discharge its liability in respect of a pension credit in accordance with either sub-paragraph (2) or sub-paragraph (3) of paragraph 1 of Schedule 5 to the 1999 Order.
(2) Where the Committee discharges its liability by conferring pension credit rights on the person entitled to the pension credit, those rights shall be to –
(a)a pension and a lump sum grant; and
(b)a death grant.
(3) A pension credit member is not entitled to a lump sum grant if the transferor has been paid a retirement grant before the valuation date.
(4) The pension at the valuation date shall be calculated –
(a)by reference to the value of the pension credit member’s pension credit rights calculated in accordance with regulation 10 of the Pension Sharing (Implementation and Discharge of Liability) Regulations (Northern Ireland) 2000(); and
(b)in accordance with guidance issued by the Government Actuary.
Back to top