http://www.legislation.gov.uk/nisr/2012/267/contents/made

The Hybrid Schemes Quality Requirements Rules (Northern Ireland) 2012

Pensions

Retirement

State pensions

Occupational pensions

en

Government Printer for Northern Ireland

2019-12-19

PENSIONS

To fulfil their duties under Part 1 of the Pensions (No. 2) Act (Northern Ireland) 2008 (“employers’ duties”), employers are able to use a range of pension scheme types each of which has to satisfy certain quality requirements. Section 24 of that Act provides that a hybrid scheme will satisfy the quality requirements if it satisfies the requirements of subsection (1)(a) or (b) whichever is appropriate (“the paragraph (a) quality requirements” and “the paragraph (b) quality requirements”). Hybrid schemes are schemes which are composed of both money purchase and defined benefits elements.