Point in time view as at 01/04/2015.
Pension Schemes (Northern Ireland) Act 1993, Section 77 is up to date with all changes known to be in force on or before 06 March 2025. 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.
A transaction to which section 15 applies discharges the trustees or managers of an occupational pension scheme from their liability to provide for or in respect of any person short service benefit or any alternative to short service benefit—
(a)if it is carried out not earlier than the time when that person’s pensionable service terminates; and
(b)if and to the extent that it results in short service benefit or any alternative to short service benefit for or in respect of that person being appropriately secured (within the meaning of that section); and
(c)if and to the extent that the requirements set out in paragraph (a) or (c) of section 15(5) are satisfied.
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