SCHEDULES
SCHEDULE 6Collective money purchase benefits: minor and consequential amendments for Northern Ireland
Pension Schemes (Northern Ireland) Act 1993 (c. 49)
2
(1)
Section 80 (basis of revaluation of accrued benefits) is amended as follows.
(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.”