C1C2 Part IIIF4F3Schemes that were contracted-out etc. and Effects on Members’ State Scheme Rights ...

Annotations:
Amendments (Textual)
F4

Words in Pt. 3 heading omitted (6.4.2016) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 3(b)

F3

Words in Pt. 3 heading substituted (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 3(a)

Modifications etc. (not altering text)
C1

Pt. 3: power to modify conferred (1.6.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 146(1); S.R. 1996/91, art. 2(f); S.R. 1997/192, art. 2

Pt. 3: power to transfer functions conferred (1.4.1999) by 1999 c. 2, s. 23(1)(2)(6); S.I. 1999/527, art. 2(b), Sch. 2

Chapter IF5Schemes that were contracted-out: guaranteed minimum pensions and alteration of scheme rules etc.

Annotations:
Amendments (Textual)
F5

Pt. 3 Ch. 1 heading substituted (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 4

F6Guaranteed minimum pensions

Annotations:
Amendments (Textual)
F6

S. 9 cross-heading substituted (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 12

20FF1Transfer out

1

Regulations may prescribe—

a

restrictions on the transfer of the F8earner's accrued rights under a GMP-converted schemeF8accrued rights of a person in relation to whom GMP conversion has been effected ;

b

conditions which must be complied with on the transfer of the F9earner's accrued rights under a GMP-converted schemeF9accrued rights of a person in relation to whom GMP conversion has been effected .

2

F10Section 16(2) and (5) shall apply to regulations under this section.

3

F7Where a member of a non-GMP-converted scheme makes an application under section 91(1), the trustees may with his consent adjust any F2... cash equivalent so as to reflect rights that would have accrued if the scheme had been subject to GMP conversion in accordance with Conditions 1 to 4 of section 20B.

F7Where—

a

a member of a scheme makes an application under section 91(1), and

b

GMP conversion has not been effected in relation to the member,

the trustees may with the member’s consent adjust any cash equivalent so as to reflect rights that would have accrued if GMP conversion had been effected in relation to the member in accordance with Conditions 1 to 4 of section 20B.