Citation, commencement and interpretation1.
(1)
These Regulations may be cited as the Pension Schemes Act 2015 (Transitional Provisions and Appropriate Independent Advice) Regulations (Northern Ireland) 2015 and shall come into operation on 6th April 2015.
(2)
In these Regulations—
“the Act” means the Pension Schemes Act 2015;
“the guarantee date” has the meaning given in section 89A(4) of the 1993 Act;
“member” means a member of a pension scheme who has subsisting rights in respect of any safeguarded benefits;
“relevant transaction” means a transfer payment, conversion of benefits or payment of a lump sum to which section 51(1) of the Act (independent advice in respect of conversions and transfers) applies;
“statement of entitlement” means a statement of entitlement within the meaning of section 89A of the 1993 Act;
“survivor” means a member’s survivor who has subsisting rights in respect of any safeguarded benefits;
“valuation date” means—
(a)
(b)
in any other case, the date chosen by the trustees or managers which must be a date within the period of 2 months which begins on the first day of the one month period which ends on the date the decision by the trustees or managers referred to in regulation 9(2)(b) is made;