The Pension Protection Fund (Compensation) Regulations (Northern Ireland) 2005

PART 1 PRELIMINARY

Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Pension Protection Fund (Compensation) Regulations (Northern Ireland) 2005 and shall come into operation on 6th April 2005.

(2) In these Regulations –

“the Order” means the Pensions (Northern Ireland) Order 2005;

“early retirement age” means the age specified in the scheme rules as being the date on which a member may, subject to actuarial adjustment, become entitled to payment of a pension prior to attaining normal pension age;

“employment” means any trade, business, profession, office or vocation;

“pensionable service” has the meaning given by section 66(2) of the Pension Schemes Act (interpretation (Part IV));

“qualifying course” means a full-time educational or vocational course at a recognised educational establishment where in pursuit of that course, the time spent receiving instruction or tuition, undertaking supervised study, examination or practical work or taking part in any exercise, experiment or project for which provision is made in the curriculum of the course, exceeds 12 hours per week in normal term time, and shall include any gaps between the ending of one course and the commencement of another, where the person is enrolled on and commences the latter course;

“scheme” in the case of a section or a segregated part of a scheme which for the purposes of Part III of the Order, is an eligible scheme, includes that section or segregated part of a scheme;

“surviving dependant” means –

(a)

a child of the family who is financially dependent on the member, and who is aged less than 18, or

(b)

a child of the family who is financially dependent on the member, who is aged less than 25 and who is –

(i)

either attending a qualifying course, or

(ii)

incapable of engaging in full-time paid employment due to a condition that falls within the definition of a disability under the Disability Discrimination Act 1995(1);

“transferor” has the meaning given by Article 26(8) of the 1999 Order (creation of pension credits and debits);

“relevant partner” means a person of either sex who was not married to the member and who was living with the member as if that person and the member were husband and wife; and, for the purposes of these Regulations, two adults of the same sex are to be regarded as living together as husband and wife if, but only if, they would be regarded as living together as husband and wife were they instead two adults of opposite sex.

(3) Subject to paragraph (4), in these Regulations, “employer”, in relation to an occupational pension scheme which has no active members, includes the person who was the employer of persons in the description of employment to which the scheme relates immediately before the time at which the scheme ceased to have any active members in relation to it.

(4) In these Regulations, “employer”, in relation to a multi-employer scheme, or a section of a multi-employer scheme, includes –

(a) in the case of a scheme which has no active members, every person who was the employer of persons in the description of employment to which the scheme, or section, relates immediately before the time at which the scheme, or section, ceased to have any active members in relation to it unless, after that time –

(i) a debt under Article 75 of the 1995 Order(2) (deficiencies in the assets) becomes due from that person, to the scheme, or section, and

(ii) either –

(aa) the full amount of the debt has been paid by that person to the trustees or managers of the scheme, or section, or

(bb) in circumstances where a legally enforceable agreement has been entered into between that person and the trustees or managers of the scheme, or section, the effect of which is to reduce the amount which is payable in respect of the debt, the reduced amount of the debt has been paid in full by that person to those trustees or managers, and

(b) in any other case, any person who has ceased to be the employer of persons in the description of employment to which the scheme, or section, relates unless –

(i) at the time when he so ceased, the scheme, or section, was not being wound up and continued to have active members in relation to it, and

(ii) a debt under Article 75 of the 1995 Order became due at that time from that person to the scheme, or section, and either –

(aa) the full amount of the debt has been paid by that person to the trustees or managers of the scheme, or section, or

(bb) in circumstances where a legally enforceable agreement has been entered into between that person and the trustees or managers of the scheme, or section, the effect of which is to reduce the amount which is payable in respect of the debt, the reduced amount of the debt has been paid in full by that person to those trustees or managers.

(5) In these Regulations, any reference to a numbered Article, or Schedule, is a reference to the Article of, or Schedule to, the Order bearing that number.

(1)

1995 c. 50

(2)

Article 75 is amended by Article 248 of the Pensions (Northern Ireland) Order 2005