The Pensions (2015 Act) (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order (Northern Ireland) 2016

Amendment of the Occupational Pension Schemes (Deficiency on Winding Up, etc.) Regulations

4.  In regulation 10(2) of the Occupational Pension Schemes (Deficiency on Winding Up, etc.) Regulations (Northern Ireland) 1996(1) (disapplication of Article 75)—

(a) after the definition of “approved scheme” insert—

““contracted-out” is to be construed in accordance with section 3B(2)(2) of the Pension Schemes Act (meaning of “contracted-out scheme” and “appropriate scheme” etc);”;

(b) in the definition of “relevant lump sum retirement benefits scheme”, in paragraph (b) for “is not contracted-out” substitute “was not contracted-out at any time before the second abolition date”;

(c) after the definition of “relevant statutory scheme” insert—

““the second abolition date” has the meaning given in section 176(1) of the Pension Schemes Act(3);”.

(1)

S.R. 1996 No. 585 to which there are amendments not relevant to this Order

(2)

Section 3B was inserted by paragraph 6 of Schedule 13 to the Pensions Act (Northern Ireland) 2015

(3)

The definition of “the second abolition date” was inserted by paragraph 42(2) of Schedule 13 to the Pensions Act (Northern Ireland) 2015