Part IV Protection for Early Leavers
C5C4C2C3C7C6Chapter I Preservation of Benefit Under Occupational Schemes
Pt. 4 Ch. 1 modified (1.4.2015) by The Police Pensions (Consequential Provisions) Regulations (Northern Ireland) 2015 (S.R. 2015/156), regs. 1(2), 7(1)
Pt. 4 Ch. 1 modified (1.4.2015) by The Judicial Pensions Regulations (Northern Ireland) 2015 (S.R. 2015/76), reg. 1(3), Sch. 3 para. 5(1)
Pt. 4 Ch. 1 modified (1.4.2015) by The Public Service (Civil Servants and Others) Pensions (Consequential Provisions) Regulations (Northern Ireland) 2015 (S.R. 2015/81), regs. 1(1), 7(1)
Pt. 4 Ch. 1 modified (1.4.2015) by The Teachers Pension Scheme (Consequential Provisions) Regulations (Northern Ireland) 2015 (S.R. 2015/170), regs. 1, 7(1)
Pt. 4 Ch. 1 modified (1.4.2015) by The Health Service Workers (Consequential Provisions) Regulations (Northern Ireland) 2015 (S.R. 2015/167), regs. 1, 7(1)
C169 Form of short service benefit and its alternatives.
1
Subject to subsection (2) and section 77, a member’s short service benefit must be—
a
payable directly out of the resources of the scheme; or
b
assured to him by such means as may be prescribed.
2
Subject to subsections (3) to (5), a scheme may, instead of providing short service benefit, provide—
a
for the member’s accrued rights (including any transfer credits allowed under the scheme)—
i
to be transferred to another occupational pension scheme with a view to acquiring transfer credits for the member under the other scheme, or
b
for such alternatives to short service benefit as may be prescribed.
3
The option conferred by subsection (2)(a) is additional to any obligation imposed by F3Chapter 1 of Part 4ZA.
4
The alternatives specified in subsection (2)(a) and (b) may only be by way of complete or partial substitute for short service benefit—
a
if the member consents; or
b
in such other cases as may be prescribed.
5
An alternative prescribed under subsection (2)(b) may only include payment by way of return of contributions—
a
if they relate to a period of service before 6th April 1975; or
b
if there has been such a payment relating to a period of service before that date and the contributions relate to a period of service of less than 5 years after that date.
Pt. 4 Ch. 1 modified (1.4.2015) by The Firefighters Pension Scheme (Consequential Provisions) Regulations (Northern Ireland) 2015 (S.R. 2015/166), regs. 1, 7(1)