The Occupational and Stakeholder Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2013

Amendment of the Occupational Pension Schemes (Transfer Values) Regulations N.I.

5.  In regulation 2 of the Occupational Pension Schemes (Transfer Values) Regulations (Northern Ireland) 1996 M1 (pre-1986 leavers)—

(a) the existing provision shall be numbered paragraph (1);

(b) in paragraph (1)(b), for “the rate of inflation as measured by the retail prices index” substitute “ a rate that maintains the value of pensions or other benefits by reference to the rise in the general level of prices ”;

(c) after paragraph (1) add—

“(2) For the purposes of paragraph (1)(b), “a rate that maintains the value of pensions or other benefits by reference to the rise in the general level of prices” shall be construed in accordance with regulation 2(b) of the Occupational Pension Schemes (Transfer Values) Regulations 1996 M2 (pre-1986 leavers).”.

Marginal Citations

M1 S.R. 1996 No. 619

M2 S.I. 1996/1847; regulation 2(b) was amended by regulation 6 of S.I. 2013/459