Pension Schemes Act 2015

Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)) E+W+S

79 E+W+S The Pensions (Northern Ireland) Order 2005 is amended as follows.

80 (1) Article 2 (interpretation) is amended as follows. E+W+S

(2) In paragraph (3), for “an occupational pension scheme” substitute “ a pension scheme ”.

(3) In paragraph (4)(a), for head (ii) substitute—

“(ii) Chapter 2 or 3 of Part 4 of the Pension Schemes Act (certain protection for early leavers) or regulations made under either of those Chapters;

(iia) Chapter 1 or 2 of Part 4ZA of that Act (transfers and contribution refunds) or regulations made under either of those Chapters;”.

81 (1) Article 14 (pension liberation: interpretation) is amended as follows. E+W+S

(2) In paragraph (2)(a)—

(a) after “accrued rights” insert “ or an entitlement ”;

(b) in head (ii), for “the applicable rules” substitute “ the scheme rules ”.

(3) In paragraph (3)—

(a) for sub-paragraph (a) substitute—

“(a) section 90 of the Pension Schemes Act (right to cash equivalent under Chapter 1 of Part 4ZA of that Act);”;

(b) in sub-paragraph (b), for “Chapter 5 of Part IV” substitute “ Chapter 2 of Part 4ZA ”.

(4) In paragraph (4)(d), for “the applicable rules” substitute “ the scheme rules ”.

(5) Omit paragraph (5).

82 E+W+S In Article 19 (freezing orders), in paragraph (4)(g), for “salary related schemes” substitute “ benefits other than money purchase ”.

83 E+W+S In Article 20 (consequences of freezing order), in paragraph (7), for sub-paragraphs (a) and (b) substitute—

“(a) Chapter 1 of Part 4ZA of the Pension Schemes Act (transfer rights: general), or

(b) Chapter 2 of that Part (early leavers: cash transfer sums and contribution refunds),”.

84 E+W+S In Article 68 (inspection of premises), in paragraph (2)(d)—

(a) for “Chapter 4 of Part IV” substitute “ Chapter 1 of Part 4ZA ”;

(b) for “Chapter 5 of Part IV” substitute “ Chapter 2 of Part 4ZA ”.

85 E+W+S In Article 119 (restrictions on winding up, discharge of liabilities etc.), in paragraph (6)(b), for “Chapter 5 of Part IV” substitute “ Chapter 2 of Part 4ZA ”.

86 E+W+S In Article 122 (payment of scheme benefits), in paragraph (3)(b), for “Chapter 5 of Part IV” substitute “ Chapter 2 of Part 4ZA ”.

87 (1) Schedule 6 (pension compensation provisions) is amended as follows. E+W+S

(2) In paragraph 20(1)(c), for “Chapter 5 of Part IV” substitute “ Chapter 2 of Part 4ZA ”.

(3) In paragraph 32(1)(b), for “Chapter 5 of Part IV” substitute “ Chapter 2 of Part 4ZA ”.