Power to treat benefits as having become payable before the assessment date3

1

Where this regulation applies, the benefits referred to in paragraph (3) shall be treated, for the purposes of Article 147(2) of the Order (adjustments to be made where the Board assumes responsibility for a scheme), as having become payable before the assessment date.

2

This regulation applies where—

a

a member of an eligible scheme died before the commencement of the assessment period in relation to the scheme, and

b

during the period mentioned in Article 147(2)(a) of the Order, a person became entitled under the scheme rules to a benefit referred to in paragraph (3) in respect of that member.

3

The benefits referred to in this paragraph are—

a

a death benefit which is calculated and paid by the trustees or managers of the eligible scheme on or after the assessment date but before the date the trustees or managers receive the transfer notice in respect of that scheme, and

b

a contribution refund within the meaning of section 97AB(4) of the Pension Schemes Act (right to cash transfer sum and contribution refund).

Power to pay certain transfer payments and contribution refunds4A

1

The Board must pay 90% of the rights described in paragraph (2) in the circumstances prescribed in paragraph (3).

2

The rights are—

a

any transfer payment, and

b

any payment in respect of a refund of contributions,

to which a member of the scheme was entitled immediately before the commencement of the assessment period.

3

The circumstances are that—

a

the Board assumes responsibility for a scheme in accordance with Chapter 3 of Part III of the Order;

b

the circumstances and conditions prescribed in—

i

regulation 16(1)16 of the Pension Protection Fund (Entry Rules) Regulations (Northern Ireland) 2005 (restrictions on winding up, discharge of liabilities etc.), or

ii

regulation 2 of the Pension Protection Fund (Hybrid Schemes) (Modification) Regulations (Northern Ireland) 200517 (discharge of liabilities in respect of money purchase benefits during the assessment period),

were met in respect of the rights;

c

the rights remained unpaid at the time the transfer notice was received by the trustees or managers of the scheme, and

d

the member sends the Board a written request to make a payment in respect of the rights.