SCHEDULE 3Supplementary and Consequential Provisions

Regulation 20(1)

Amendment of the Occupational Pension Schemes (Contracting-out) Regulations

1.

(1)

The Occupational Pension Schemes (Contracting-out) Regulations (Northern Ireland) 199629 shall be amended in accordance with sub-paragraphs (2) to (5).

(2)

In regulation 1(2) (interpretation)—

(a)

before the definition of “the Act” there shall be inserted the following definition—

““the 2005 Order” means the Pensions (Northern Ireland) Order 2005;”, and

(b)

the definition of “minimum funding requirement” shall be omitted.

(3)

In regulation 6(2) (information to be included in an election) for sub-paragraph (g) there shall be substituted the following sub-paragraph—

“(g)

in the case of a scheme to which Part IV of the 2005 Order (scheme funding) applies, that the requirements of Articles 203, 204, 205 (if applicable) and 206 of that Order and any regulations under those provisions are complied with.”.

(4)

In regulation 18 (requirement as to resources of the scheme)—

(a)

in paragraph (1) for the words from “the amount of the resources of the scheme must be” to the end there shall be substituted “either the resources of the scheme must be sufficient to enable the scheme to meet the statutory funding objective provided for in Article 201(1) of the 2005 Order, or the actuary to the scheme must have certified under Article 206(6)(b)(i) of that Order that in his opinion the rates shown in the schedule of contributions are such that the statutory funding objective can be expected to be met by the end of the period specified in the recovery plan.”;

(b)

in paragraph (2) for “Article 56 of the Order” there shall be substituted “Part IV of the 2005 Order”, and

(c)

after paragraph (2) there shall be added the following paragraph—

“(3)

In a case where the trustees of a scheme are authorised under Article 264 of the 2005 Order to accept contributions from European employers or approved under Article 265 of that Order to accept contributions from a particular European employer, paragraph (1) has effect with the substitution for “by the end of the period specified in the recovery plan” of “within two years after the date of the last actuarial valuation under Article 203 of the 2005 Order.””.

(5)

In regulation 72 (transitional requirements as to sufficiency of resources of salary-related schemes)—

(a)

in paragraph (1A)30, for “Article 58 of the Order” there shall be substituted “Article 206 of the 2005 Order”;

(b)

in paragraph (3)31, for “Article 56(3) of the Order (minimum funding requirement)” there shall be substituted “Article 201(3) of the 2005 Order (the statutory funding objective)”, and

(c)

in paragraph (6)32, for “Article 56 of the Order” there shall be substituted “Part IV of the 2005 Order”.

(6)

The amendments in this paragraph have effect subject to paragraph 17 of Schedule 4.

Annotations:
Commencement Information

I1Sch. 3 para. 1 in operation at 30.12.2005, see reg. 1

Amendment of the Occupational Pension Schemes (Transfer Values) Regulations

2.

(1)

The Occupational Pension Schemes (Transfer Values) Regulations (Northern Ireland) 199633 shall be amended in accordance with sub-paragraphs (2) to (4).

(2)

In regulation 1(2) (interpretation) after the definition of “the 1985 Regulations” there shall be inserted the following definition—

““the 2005 Order” means the Pensions (Northern Ireland) Order 2005;”.

(3)

In regulation 734 (manner of calculation and verification of cash equivalents)—

(a)

in paragraph (3)(b), head (iv) and the word “and” immediately preceding it, and

(b)

paragraph (4),

shall be omitted.

(4)

In regulation 8 (further provisions as to calculation of cash equivalents and increases and reductions of cash equivalents (other than guaranteed cash equivalents))—

(a)

in paragraph (4)35 for “Article 56 (minimum funding requirement)” there shall be substituted “Part IV of the 2005 Order (scheme funding)”;

(b)

in paragraph (4B) “then, subject to paragraph (4D)” shall be omitted;

(c)

paragraphs (4D) to (4I), (4K), (4L) and (6) shall be omitted, and

(d)

in paragraph (5)36—

(i)

for “Article 61, Article 56” there shall be substituted “Article 211 of the 2005 Order, Part IV of that Order”, and

(ii)

for “paragraphs (4), (4A) and (4G)” there shall be substituted “paragraphs (4) and (4A)”.

Annotations:
Commencement Information

I2Sch. 3 para. 2 in operation at 30.12.2005, see reg. 1

Amendment of the Occupational Pension Schemes (Winding Up) Regulations

3.

(1)

The Occupational Pension Schemes (Winding Up) Regulations (Northern Ireland) 199637 shall be amended in accordance with sub-paragraphs (2) and (3).

(2)

In regulation 12(3) (winding up of sectionalised schemes, etc.)—

(a)

for “Schedule 5 to the MFR Regulations” there shall be substituted “Schedule 2 to the Occupational Pension Schemes (Scheme Funding) Regulations (Northern Ireland) 2005”, and

(b)

for “Article 56” there shall be substituted “Part IV of the Pensions (Northern Ireland) Order 2005”.

(3)

In regulation 13 (hybrid schemes) paragraphs (6) and (7) shall be omitted.

Annotations:
Commencement Information

I3Sch. 3 para. 3 in operation at 30.12.2005, see reg. 1

Amendment of the Personal and Occupational Pension Schemes (Pensions Ombudsman) Regulations

F14.

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Amendment of the Occupational Pension Schemes (Scheme Administration) Regulations

5.

(1)

The Occupational Pension Schemes (Scheme Administration) Regulations (Northern Ireland) 199739 shall be amended in accordance with sub-paragraphs (2) and (3).

(2)

In regulation 1(2) (interpretation) after the definition of “the 2000 Act”40 there shall be inserted the following definition—

““the 2005 Order” means the Pensions (Northern Ireland) Order 2005;”.

F2(3)

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Amendment of the Occupational Pension Schemes (Disclosure of Information) Regulations

F36.

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F37.

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Amendment of the Pension Sharing (Valuation) Regulations 2000

8.

(1)

The Pension Sharing (Valuation) Regulations (Northern Ireland) 200047 shall be amended in accordance with sub-paragraphs (2) to (4).

(2)

In regulation 1(2) (interpretation) after the definition of “the 1999 Order” there shall be inserted the following definition—

““the 2005 Order” means the Pensions (Northern Ireland) Order 2005;”.

(3)

In regulation 4 (occupational pension schemes: manner and calculation and verification of cash equivalents)—

(a)

in paragraph (3)(b), head (iii) and the word “and” immediately preceding it, and

(b)

paragraph (4),

shall be omitted.

(4)

In regulation 5 (occupational pension schemes: further provisions as to calculation of cash equivalents and increases and reductions of cash equivalents)—

(a)

in paragraph (3)48 for “Article 56 (minimum funding requirement)” there shall be substituted “Part IV of the 2005 Order (scheme funding)”;

(b)

in paragraph (3B) “then, subject to paragraph (3D)” shall be omitted;

(c)

paragraphs (3D) to (3I), (3K) and (3L) shall be omitted;

(d)

in paragraph (4)49—

(i)

for “Schedule 5 to the Minimum Funding Requirement Regulations, Article 56” there shall be substituted “Schedule 2 to the Occupational Pension Schemes (Scheme Funding) Regulations (Northern Ireland) 2005, Part IV of the 2005 Order”, and

(ii)

for “paragraphs (3), (3A) and (3G)” there shall be substituted “paragraphs (3) and (3A)”, and

(e)

in paragraph (5)50 for “paragraphs (3) and (3F)” there shall be substituted “paragraph (3)”.
Annotations:
Commencement Information

I5Sch. 3 para. 8 in operation at 30.12.2005, see reg. 1

Amendment of the Pension Sharing (Implementation and Discharge of Liability) Regulations

9.

(1)

The Pension Sharing (Implementation and Discharge of Liability) Regulations (Northern Ireland) 200051 shall be amended in accordance with sub-paragraphs (2) and (3).

(2)

In regulation 1(2) (interpretation) after the definition of “the 2000 Act”52 there shall be inserted the following definition—

““the 2005 Order” means the Pensions (Northern Ireland) Order 2005;”.

(3)

In regulation 16 (adjustments to the amount of pension credit - occupational pension schemes which are underfunded on the valuation day)—

(a)

in paragraph (2)53 for “Article 56 of the 1995 Order (minimum funding requirement)” there shall be substituted “Part IV of the 2005 Order (scheme funding)”;

(b)

in paragraph (2B) “then, subject to paragraph (2D)” shall be omitted;

(c)

paragraphs (2D) to (2I), (2K) and (2L) shall be omitted, and

(d)

in paragraph (3)54—

(i)

for “Schedule 5 to the Occupational Pension Schemes (Minimum Funding Requirement and Actuarial Valuations) Regulations (Northern Ireland) 1996, Article 56 of the 1995 Order (minimum funding requirement)” there shall be substituted “Schedule 2 to the Occupational Pension Schemes (Scheme Funding) Regulations (Northern Ireland) 2005, Part IV of the 2005 Order (scheme funding)”, and

(ii)

for “paragraphs (2), (2A) and (2G)” there shall be substituted “paragraphs (2) and (2A)”.

Annotations:
Commencement Information

I6Sch. 3 para. 9 in operation at 30.12.2005, see reg. 1

Amendment of the Pension Sharing (Pension Credit Benefit) Regulations

10.

(1)

The Pension Sharing (Pension Credit Benefit) Regulations (Northern Ireland) 200055 shall be amended in accordance with sub-paragraphs (2) to (4).

(2)

In regulation 1(2) (interpretation) after the definition of “the 2000 Act”56 there shall be inserted the following definition—

““the 2005 Order” means the Pensions (Northern Ireland) Order 2005;”.

(3)

In regulation 24 (manner of calculation and verification of cash equivalents)—

(a)

in paragraph (3)(b), head (iv) and the word “and” immediately preceding it, and

(b)

paragraph (4),

shall be omitted.

(4)

In regulation 27 (increases and reductions of cash equivalents before a statement of entitlement has been sent to the eligible member)—

(a)

in paragraph (4)57 for “Article 56 (minimum funding requirement)” there shall be substituted “Part IV of the 2005 Order (scheme funding)”;

(b)

in paragraph (4B) “then, subject to paragraph (4D)” shall be omitted;

(c)

paragraphs (4D) to (4I), (4K) and (4L) shall be omitted;

(d)

in paragraph (4M) for “paragraphs (4J) and (4K)” there shall be substituted “paragraph (4J)”, and

(e)

in paragraph (5)58—

(i)

for “Schedule 5 to the Minimum Funding Requirement Regulations, Article 56” there shall be substituted “Schedule 2 to the Occupational Pension Schemes (Scheme Funding) Regulations (Northern Ireland) 2005, Part IV of the 2005 Order”, and

(ii)

for “paragraphs (4), (4A) and (4G)” there shall be substituted “paragraphs (4) and (4A)”.

Annotations:
Commencement Information

I7Sch. 3 para. 10 in operation at 30.12.2005, see reg. 1

Amendment of the Stakeholder Pension Schemes Regulations

11.

In regulation 19 of the Stakeholder Pension Schemes Regulations (Northern Ireland) 200059 (requirement for trustees of a stakeholder pension scheme established under a trust) the words “except the reference to Article 56 (minimum funding requirement) in Article 35(2) and Article 35(5)(b) of that Order” shall be omitted.
Annotations:
Commencement Information

I8Sch. 3 para. 11 in operation at 30.12.2005, see reg. 1

Amendment of the Occupational Pension Schemes (Republic of Ireland Schemes Exemption) Regulations

F412.

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Amendment of the Occupational Pension Schemes (Administration and Audited Accounts) (Amendment) Regulations

F513.

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