Chwilio Deddfwriaeth

The Pension Protection Fund (Pension Compensation Sharing and Attachment on Divorce etc.) Regulations (Northern Ireland) 2011

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Pa Fersiwn

  • Y Diweddaraf sydd Ar Gael (Diwygiedig)
  • Gwreiddiol (a wnaed Fel)

Statws

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Basic information about pension compensation and divorce or dissolution of a civil partnership

This section has no associated Memorandwm Esboniadol

3.—(1) The requirements imposed on the Board for the purposes of section 96(1)(a) (supply of information about pension compensation in relation to divorce etc.) are that the Board must supply—

(a)on request from a member, the information specified in paragraphs (2) and (3)(b) and (c);

(b)on request from the spouse or civil partner of the member, the information specified in paragraph (3), and

(c)pursuant to an order of the court, the information specified in paragraph (2), (3), or (4),

to the member, the spouse or civil partner of the member, or, as the case may be, to the court.

(2) The information specified in this paragraph is a valuation of the member’s rights to PPF compensation and (if not the same as the member’s rights to PPF compensation) a valuation of the member’s rights to relevant compensation.

(3) The information specified in this paragraph is—

(a)a statement that on request from the member, or pursuant to an order of the court, a valuation of the member’s rights to PPF compensation and to relevant compensation (if not the same as the member’s rights to PPF compensation), will be supplied to the member, or, as the case may be, to the court;

(b)a statement summarising the way in which the valuations referred to in paragraph (2) and sub-paragraph (a) are calculated;

(c)a schedule of the charges that the Board will impose in accordance with regulation 16, and the method by which those charges may be recovered;

(d)a statement that a person entitled to a pension compensation credit against the Board will be entitled to periodic compensation calculated in accordance with Schedule 4 (pension compensation payable on discharge of pension compensation credit).

(4) The information specified in this paragraph is any other information about the calculation and payment of PPF compensation relevant to any power exercisable under the provisions specified in section 96(1)(a).

(5) Where the member’s request or the court order for the provision of information includes a request or an order for provision of a valuation under paragraph (2), the Board must supply all the information in that request or order within—

(a)3 months, beginning with the day that the Board receives the request or order for the provision of information;

(b)6 weeks, beginning with the day that the Board receives the request or order for the provision of information, where the member or the court has notified the Board on the date of the request or order that the information is needed in connection with proceedings commenced under any of the provisions specified in section 96(1)(a), or

(c)any shorter period where the court specifies such a period in an order requiring the Board to supply a valuation in accordance with paragraph (2).

(6) Where—

(a)the member’s request or the court order for supply of information does not include a request or an order for provision of a valuation under paragraph (2), or

(b)the member’s spouse or civil partner requests the information specified in paragraph (3),

the Board must supply that information within one month beginning with the day that the Board receives the request or the court order for the provision of the information.

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Memorandwm Esboniadol

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Statutory Rule accessible to readers who are not legally qualified and accompany any Northern Ireland Statutory Rule or Draft Northern Ireland Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.

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