SCHEDULES

SCHEDULE 11Further provision relating to pension schemes: Northern Ireland

PART 1Funding of defined benefit schemes

Amendments of Part 4 of the Pensions (Northern Ireland) Order 2005

3

(1)

Article 201 (the statutory funding objective) is amended as follows.

(2)

After paragraph (2) insert—

“(2A)

The scheme's technical provisions shall be calculated in a way that is consistent with the scheme's funding and investment strategy, as set out in the scheme's statement of strategy.”

(3)

In paragraph (3)(b), after “in a prescribed manner and” insert “ , subject to paragraph (2A), ”.