Pension Schemes Act 2021 (c. 1)

SCHEDULES

SCHEDULE 6 N.I. Collective money purchase benefits: minor and consequential amendments for Northern Ireland

Pension Schemes (Northern Ireland) Act 1993 (c. 49) N.I.

2 (1) Section 80 (basis of revaluation of accrued benefits) is amended as follows. N.I.

(2) In subsection (3), after “money purchase benefit” insert “ other than a collective money purchase benefit ”.

(3) After subsection (3A) insert—

“(3AA) If any such benefit as is mentioned in section 79(1)(a) is a collective money purchase benefit, the benefit shall be revalued using the cash balance method.”

Commencement Information

I1 Sch. 6 para. 2 in force at Royal Assent for specified purposes, see s. 131(3)(a)

I2 Sch. 6 para. 2 in force at 1.8.2022 in so far as not already in force by S.R. 2022/197, art. 3(a)