- Latest available (Revised)
- Point in Time (25/04/2000)
- Original (As enacted)
Version Superseded: 01/12/2000
Point in time view as at 25/04/2000.
Pension Schemes (Northern Ireland) Act 1993, Chapter II is up to date with all changes known to be in force on or before 10 September 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
(1)This Chapter applies for the purpose of revaluing—
(a)benefits payable to or in respect of a member of an occupational pension scheme where—
(i)his pensionable service ends on or after 1st January 1986;
(ii)on the date on which his pensionable service ends (in this Chapter referred to as “the termination date”) he has accrued rights to benefit under the scheme;
(iii)the period beginning with the day after the termination date and ending with the date on which he attains normal pension age (in this Chapter referred to as “the pre-pension period”) is at least 365 days; and
(iv)in the case of benefit payable to any other person in respect of the member, the member dies after attaining normal pension age; and
(b)benefits payable to or in respect of a member of a personal pension scheme—
(i)in respect of whom contributions to the scheme have ceased to be paid; and
(ii)who has accrued rights to benefit under the scheme.
(2)In calculating 365 days for the purpose of subsection (1)(a)(iii), any day which is 29th February shall be disregarded.
(3)In subsection (1)(b)—
(a)the reference to a personal pension scheme does not include a scheme which is comprised in an annuity contract made before 4th January 1988; and
(b)the reference to contributions includes any minimum contributions.
(1)Subject to subsections (2) and (3), in the case of such benefits as are mentioned in section 79(1)(a), any pension or other retirement benefit payable under the scheme in question to the member and any pension or other benefit payable under it to any other person in respect of him, is to be revalued by the final salary method.
(2)If—
(a)any such benefit is an average salary benefit or flat rate benefit; and
(b)it appears to the trustees or managers of the scheme under which it is payable that it is appropriate to revalue the benefit by the average salary method or, as the case may be, the flat rate method,
then the benefit shall be revalued using that method.
(3)If any benefit such as is mentioned in paragraph (a) of section 79(1) is a money purchase benefit, and in the case of such benefit as is mentioned in paragraph (b) of that section, the benefit shall be revalued using the money purchase method.
(4)In this section—
“average salary benefit” means benefit the rate or amount of which is calculated by reference to the average salary of a member over the period of service on which the benefit is based;
“flat rate benefit” means any benefit the rate or amount of which is calculated by reference solely to the member’s length of service;
“average salary method”, “final salary method”, “flat rate method” and “money purchase method” have the meanings given in Schedule 2.
(5)The fact that a scheme provides for the amount of the pension or other benefit for a member or for any other person in respect of him to be increased during the pre-pension period—
(a)by the percentages specified during that period under section 132 of the M1Social Security Administration (Northern Ireland) Act 1992; F1. . .
F1(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
does not in itself result in conflict with this section, if the increase falls to be determined by reference to an amount from which the guaranteed minimum for a member or a member’s widow or widower has not been deducted.
Textual Amendments
F1S. 80(5)(b) and the word “or” immediately preceding repealed (6.4.1997) by S.I. 1995/3213 (N.I. 22), arts. 147, 168, Sch. 3 para. 52, Sch. 5 Pt. III; S.R. 1997/192, art. 2(b)
Marginal Citations
Nothing in this Chapter is to be construed as requiring the revaluation of any pension or other benefit provided by virtue of section 69(2)(b) by way of complete substitute for another pension or benefit.
(1)In making any calculation for the purposes of this Chapter in relation to any occupational pension scheme—
(a)any commutation, forfeiture or surrender of,
(b)any charge or lien on, and
(c)any set-off against,
the whole or part of a pension shall be disregarded.
(2)The same money may not be treated as providing both the increase in benefit required by this Chapter and the benefit required by Chapter III.
The Whole Act 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?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules 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?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act 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?
The Whole Act without Schedules 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?
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.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: