Search Legislation

The Firefighters’ Pension Scheme Regulations (Northern Ireland) 2015

Status:

This is the original version (as it was originally made).

PART 7Benefits for pension credit members

Entitlement to pension credit members’ pension

113.—(1) A pension credit member (P) of this scheme is entitled to the immediate payment of a pension credit member’s pension under this scheme if—

(a)P has reached deferred pension age;

(b)the pension sharing order under which P is entitled to the pension credit has taken effect; and

(c)P has claimed payment of the pension.

(2) If P is entitled to two or more pension credits, P is entitled to a pension credit member’s pension in respect of each pension credit.

Annual rate of pension credit member’s pension

114.  The annual rate of a pension credit member’s pension is calculated by—

(a)taking the amount of credited pension specified in the pension credit member’s account; and

(b)subtracting the commutation amount (if any) specified in that account in relation to that amount.

Reduction in pension debit member’s benefits

115.  The benefits to which a pension debit member is entitled under these Regulations are subject to the reduction of the relevant amount calculated in accordance with regulation 63 (establishment of pension credit member’s account).

Pension credit member’s rights

116.  Benefits that are attributable (directly or indirectly) to a pension credit may not be aggregated with any other benefit to which the pension credit member is entitled under this scheme.

Commutation of part of pension

117.—(1) A pension credit member who becomes entitled to payment of a pension credit member’s pension under this scheme may opt to exchange part of the pension for a lump sum.

(2) The option may only be exercised by notice —

(a)to the scheme manager not earlier than 4 months before the later of—

(i)the date on which the pension sharing order comes into effect; or

(ii)the date on which the person attains deferred pension age;

(b)in such form as the scheme manager requires; and

(c)before the first payment of the pension is made.

(3) If a pension credit member exercises the option under this regulation, for every £1 by which the amount of the member’s annual rate of pension is reduced, the member is to be paid a lump sum of £12.

(4) The commuted portion must not exceed one quarter of the amount of the pension credit member’s pension.

(5) A pension credit member may not exchange pension for a lump sum under this regulation to the extent that it would result in a scheme chargeable payment for the purposes of Part 4 (pension scheme etc) of the 2004 Act (see section 241 of that Act).

(6) This regulation does not apply if the pension debit member from whose rights the pension is derived received a lump sum under Part 5 (retirement benefits) before the date on which the pension sharing order takes effect.

Back to top

Options/Help

Print Options

You have chosen to open The Whole Rule

The Whole Rule you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Rule as a PDF

The Whole Rule you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Rule

The Whole Rule you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Statutory Rule accessible to readers who are not legally qualified and accompany any Northern Ireland Statutory Rule or Draft Northern Ireland Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources