Pension Schemes (Northern Ireland) Act 1993

90 Right to cash equivalent. N.I.

(1) Subject to the following provisions of this Chapter—

(a) a member of an occupational pension scheme [F1 other than a salary related scheme] acquires a right, when his pensionable service terminates [F2 (whether before or after 1st January 1986)], to the cash equivalent at the relevant date of any benefits which have accrued to or in respect of him under the applicable rules; and

[F3 (aa) a member of a salary related occupational pension scheme who has received a statement of entitlement and has made a relevant application within three months beginning with the guarantee date in respect of that statement acquires a right to his guaranteed cash equivalent;]

(b) a member of a personal pension scheme acquires a right to the cash equivalent at the relevant date of any benefits which have accrued to or in respect of him under the rules of the scheme.

[F4 (1A) For the purposes of subsection (1)(aa), a person’s “guaranteed cash equivalent” is the amount stated in the statement of entitlement mentioned in that subsection.]

[F5 (1B) In subsection (1), references to benefits which have accrued do not include benefits which are attributable (directly or indirectly) to a pension credit.]

(2) In this section—

• [F6 “ the applicable rules ” means—

  (a)

  the rules of the scheme, except so far as overridden by a relevant legislative provision;

  (b)

  the relevant legislative provisions, to the extent that they have effect in relation to the scheme and are not reflected in the rules of the scheme; and

  (c)

  any provision which the rules of the scheme do not contain but which the scheme must contain if it is to conform with Chapter 1 of Part IV of this Act;]

• [F7 “the guarantee date” has the same meaning as in section 89A(2);]

• “the relevant date” means, subject to regulations under section 94(4)—

  (a)

  the date of the relevant application, or

  (b)

  in the case of an occupational pension scheme, if it is later, the termination date;

• “the relevant application” means any application which the member has made under section 91 and not withdrawn.

[F8 (2A) For the purposes of subsection (2)—

(a) “relevant legislative provision” means any provision contained in any of the following provisions—

(i) Schedule 5 to the Social Security (Northern Ireland) Order 1989 (equal treatment for men and women);

(ii) this Chapter or Chapter 2, 3 or 5 or regulations made under this Chapter or any of those Chapters;

(iii) Part IVA or regulations made under that Part;

(iv) section 106(1);

(v) Part II of the Pensions (Northern Ireland) Order 1995 (occupational pensions) or orders or regulations made or having effect as if made under that Part;

(vi) Article 28 of the Welfare Reform and Pensions (Northern Ireland) Order 1999 (pension debits: reduction of benefit);

(vii) any provision mentioned in Article 279(2) of the Pensions (Northern Ireland) Order 2005,

(b) a relevant legislative provision is to be taken to override any of the provisions of the scheme if, and only if, it does so by virtue of any of the following provisions—

(i) paragraph 3 of Schedule 5 to the Social Security (Northern Ireland) Order 1989;

(ii) section 125(1);

(iii) Article 114(1) of the Pensions (Northern Ireland) Order 1995;

(iv) Article 28(4) of the Welfare Reform and Pensions (Northern Ireland) Order 1999;

(v) Article 279(1) of the Pensions (Northern Ireland) Order 2005.]

[F9 (3) Regulations may provide that, in prescribed circumstances, subsection (1)(aa) does not apply to members of salary related occupational pension schemes or applies to them with prescribed modifications.]

Textual Amendments

F1 Words in s. 90(1)(a) inserted (6.4.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 150(1)(a); S.R. 1996/91, art. 2(d), Sch. Pt. IV; S.R. 1997/192, art. 2(b)

F2 Words in s. 90(1)(a) inserted (6.4.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 150(1)(b); S.R. 1996/91, art. 2(d), Sch. Pt. IV; S.R. 1997/192, art. 2(b)

F3 S. 90(1)(aa) inserted (6.4.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), arts. 150(2); S.R. 1996/91, art. 2(d), Sch. Pt. IV; S.R. 1997/192, art. 2(b)

F4 S. 90(1A) inserted (6.4.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 150(3); S.R. 1996/91, art. 2(d), Sch. Pt. IV; S.R. 1997/192, art. 2(b)

F5 S. 90(1B) inserted (1.12.2000) by S.I. 1999/3147 (N.I. 11), art. 74, Sch. 9 para. 24; S.R. 2000/133, art. 2(3), Sch. Pt. IV

F6 Words in s. 90(2) substituted (6.4.2006) by The Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)), art. 1(2), Sch. 10 para. 9(2); S.R. 2005/543, art. 2(6), Sch. Pt. 6

F7 Definition of “the guarantee date” in s. 90(2) inserted (6.4.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 150(4); S.R. 1996/91, art. 2(d), Sch. Pt. IV; S.R. 1997/192, art. 2(b)

F8 S. 90(2A) inserted (6.4.2006) by The Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)), art. 1(2), Sch. 10 para. 9(3); S.R. 2005/543, art. 2(6), Sch. Pt. 6

F9 S. 90(3) inserted (6.4.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 150(5); S.R. 1996/91, art. 2(d), Sch. Pt. IV; S.R. 1997/192, art. 2(b)

Modifications etc. (not altering text)

C1 S. 90 modified (12.2.2001 for specified purposes, otherwiseprosp.) by 2000 c. 4 (N.I.), s. 52, Sch. 5 Pt. II para. 14 (with s. 66(6)); S.R. 2000/374, art. 2(e)(art. 2(e)(ii) was omitted by virtue of S.R. 2001/141, art. 3)