2008 No. 364
Pensions

The Personal and Occupational Pension Schemes (Amendment) Regulations (Northern Ireland) 2008

Made
Coming into operation
The Department for Social Development makes the following Regulations in exercise of the powers conferred by sections 5(5)(a), 22, 24(5) and 177(2) to (4) of the Pension Schemes (Northern Ireland) Act 19931 and now vested in it2.

Citation, commencement and interpretation1.

(1)

These Regulations may be cited as the Personal and Occupational Pension Schemes (Amendment) Regulations (Northern Ireland) 2008 and shall come into operation on 1st October 2008.

(2)

The Interpretation Act (Northern Ireland) 19543 shall apply to these Regulations as it applies to an Act of the Assembly.

Amendment of the Personal and Occupational Pension Schemes (Protected Rights) Regulations2.

In regulation 12(11) of the Personal and Occupational Pension Schemes (Protected Rights) Regulations (Northern Ireland) 19974 (death of scheme member before effect given to his protected rights)—

(a)

at the end of sub-paragraph (a) insert “and”;

(b)

at the end of sub-paragraph (b) omit “and”;

(c)

omit sub-paragraph (c).

Amendment of the Personal Pension Schemes (Appropriate Schemes) Regulations3.

(1)

The Personal Pension Schemes (Appropriate Schemes) Regulations (Northern Ireland) 19975 shall be amended in accordance with paragraphs (2) to (9).

(2)

In regulation 1(2)6 (interpretation) omit the definitions of “the 2000 Act”, “deposit-taker”, “EEA State”, “Friendly Society”, “home state regulator”, “open-ended investment company”, “recognised scheme”, “UCITS” and “unit trust scheme”.

(3)

For regulation 27 (forms of schemes which may be appropriate schemes) substitute—

“Schemes which may be appropriate schemes2.

A personal pension scheme can be an appropriate scheme only if it is a scheme which is, or is treated as, registered under section 153 of the Finance Act 20048.”.

(4)

Omit regulation 39 (persons who and bodies which may establish schemes).

(5)

In regulation 4(1) (requirements in respect of an application for an appropriate scheme certificate) omit sub-paragraphs (e) and (f).

(6)

In regulation 6(b) (requirement to give information)—

(a)

at the end of sub-paragraph (ii) insert “and”;

(b)

omit sub-paragraph (iii).

(7)

Omit regulation 18 (cancellation of membership of interest-bearing account-funded appropriate schemes).

(8)

Omit Schedule 110 (kinds of unit trust scheme that may be an appropriate scheme).

(9)

Omit Schedule 2 (information to be included in notice).

Revocations4.

The Regulations specified in column (1) of the Schedule are revoked to the extent mentioned in column (3).

Sealed with the Official Seal of the Department for Social Development on 3rd September 2008

(L.S.)
John O’Neill
A senior officer of the Department for Social Development

SCHEDULERevocations

Regulation 4

Column (1)

Column (2)

Column (3)

Citation

Reference

Extent of revocation

The Occupational and Personal Pension Schemes (Perpetuities and Contracting-out) (Amendment) Regulations (Northern Ireland) 2001

S.R. 2001 No. 118

Regulation 4

The Occupational and Personal Pension Schemes (Contracting-out) (Miscellaneous Amendments) Regulations (Northern Ireland) 2002

S.R. 2002 No. 109

Regulation 5(6)(b)

The Social Security and Pensions (Financial Services and Markets Act 2000) (Consequential Amendments) Regulations (Northern Ireland) 2003

S.R. 2003 No. 256

Regulation 12

The Personal Pension Schemes (Appropriate Schemes) (Amendment) Regulations (Northern Ireland) 2006

S.R. 2006 No. 20

The whole Regulations

EXPLANATORY NOTE
(This note is not part of the Regulations)

These Regulations amend the Personal and Occupational Pension Schemes (Protected Rights) Regulations (Northern Ireland) 1997 (“the Protected Rights Regulations”) and the Personal Pension Schemes (Appropriate Schemes) Regulations (Northern Ireland) 1997 (“the Appropriate Schemes Regulations”).

Regulation 2 amends regulation 12(11) of the Protected Rights Regulations which applies where the member of a pension scheme dies before effect is given to that member’s protected rights. The amendment removes the provision which allowed payment of such a pension to, or for, someone who was not the spouse, civil partner or child of the member.

Regulation 3(3) substitutes regulation 2, and regulation 3(4) omits regulation 3, of the Appropriate Schemes Regulations to change the circumstances in which a personal pension scheme can be an appropriate scheme. The scheme must be registered with Her Majesty’s Revenue and Customs if it is to become an appropriate scheme. (If the scheme meets this condition, the Appropriate Schemes Regulations contain other conditions the scheme may have to meet.) Regulation 3(2) and (5) to (9) makes consequential amendments.

Regulation 4 and the Schedule make consequential revocations.