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Version Superseded: 19/07/2011
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Pension Schemes (Northern Ireland) Act 1993, Section 24A is up to date with all changes known to be in force on or before 17 October 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.
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(1)An interim arrangement must provide for payments to be made to the member, and, where subsection (2) applies, to the member’s [F2widow, widower or surviving civil partner], throughout the interim period, at intervals not exceeding twelve months [F3but the member, widow, widower or surviving civil partner may forbear to receive such payments].
(2)This subsection applies where the member dies during the interim period and is survived by a [F2widow, widower or surviving civil partner] F4....
(3)The aggregate amount of payments made to a person under an interim arrangement in each successive period of twelve months [F5(“the aggregate payment”) must not be greater than—
(a)the amount specified by pension rule 5 in subsection (1) of section 165 of the Finance Act 2004 (pension rules) for the unsecured pension year which ends in that period of twelve months, where the member has not reached the age of 75,
(b)the amount specified by pension rule 7 in that subsection for the alternatively secured pension year which ends in that period of twelve months, where the member has reached the age of 75,
(c)the amount specified by pension death benefit rule 4 in subsection (1) of section 167 of the Finance Act 2004 (pension death benefit rules) for the unsecured pension year which ends in that period of twelve months, where subsection (2) applies and the member’s widow, widower or surviving civil partner has not reached the age of 75, or
(d)the amount specified by pension death benefit rule 6 in that subsection for the alternatively secured pension year, where subsection (2) applies and the member’s widow, widower or surviving civil partner has reached the age of 75.
This is subject to subsection (3A).]
[F6(3A)The proportion of the aggregate payment which gives effect to a person’s protected rights must not be greater than the proportion of the value of the rights to money purchase benefits under the scheme that is attributable to the protected rights.]
F7(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F7(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F1Ss. 24A, 24B inserted (14.3.1996 for certain purposes otherwise 6.4.1996) by S.I. 1995/3213 (N.I. 22), art. 140; S.R. 1996/91, art. (b), Sch. Pt. II
F2Words in s. 24A(1)(2) substituted (10.11.2005 for specified purposes, 5.12.2005 in so far as not already in force) by The Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order (Northern Ireland) 2005 (S.R. 2005/433), art. 1(2)(c)(3), Sch. 1 para. 11
F3Words in s. 24A(1) inserted (6.4.2006) by The Taxation of Pension Schemes (Consequential Amendments) Order 2006 (S.I. 2006/745), arts. 1, 8(4)(a)
F4Words in s. 24A(2) omitted (6.4.2006) by virtue of The Taxation of Pension Schemes (Consequential Amendments) Order 2006 (S.I. 2006/745), arts. 1, 8(4)(b)
F5Words in s. 24A(3) substituted (6.4.2006) by The Taxation of Pension Schemes (Consequential Amendments) Order 2006 (S.I. 2006/745), arts. 1, 8(4)(c)
F6S. 24A(3A) inserted (6.4.2006) by The Taxation of Pension Schemes (Consequential Amendments) Order 2006 (S.I. 2006/745), arts. 1, 8(4)(d)
F7S. 24A(4)(5) omitted (6.4.2006) by virtue of The Taxation of Pension Schemes (Consequential Amendments) Order 2006 (S.I. 2006/745), arts. 1, 8(4)(e)
Modifications etc. (not altering text)
C1S. 24A(1)(3)(4)(5) modified (1.12.2000) by S.R. 2000/147, reg. 6(2)(a)
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