The Pension Protection Fund (Multi-employer Schemes) (Modification) Regulations (Northern Ireland) 2005 No. 91

PART IV SEGREGATED SCHEMES: NON-SEGREGATED MULTI-EMPLOYER SECTIONS OF SEGREGATED SCHEMES WITH REQUIREMENT FOR PARTIAL WIND UP ON WITHDRAWAL OF PARTICIPATING EMPLOYER

The pension compensation provisions

44.—(1) Article 146 (the pension compensation provisions) shall be modified in its application to a segregated part to which regulation 28 applies so that paragraph (1) shall be read as if –

(a) for “in relation to a scheme” there were substituted “in relation to a segregated part of a multi-employer section of a segregated scheme”;

(b) in sub-paragraphs (a) and (b) after “members” there were inserted “of that segregated part”;

(c) in sub-paragraph (c) after “payable” there were inserted “to or in respect of members of that segregated part”; and

(d) in sub-paragraph (d) at the end there were added “payable to or in respect of members of that segregated part”.

(2) Article 147 (adjustments to be made where the Board assumes responsibility for a scheme) shall be modified in its application to a segregated part to which regulation 28 applies so that it shall be read as if in paragraph (2)(a) after “to any member” there were inserted “of that segregated part”.

(3) Article 150 (duty to pay scheme benefits unpaid at assessment date etc.) shall be modified in its application to a segregated part to which regulation 28 applies so that it shall be read as if in paragraph (1) for “assumes responsibility for a scheme” there were substituted “assumes responsibility for a segregated part of a multi-employer section of a segregated scheme”.