Pensions Act (Northern Ireland) 2008 No. 1

SCHEDULES

SCHEDULE 4 ABOLITION OF CONTRACTING-OUT FOR DEFINED CONTRIBUTION PENSION SCHEMES

PART 1 AMENDMENTS HAVING EFFECT AS FROM ABOLITION DATE

The Welfare Reform and Pensions (Northern Ireland) Order 1999 (NI 11)

39.  In Schedule 5 to that Order (pension credits: mode of discharge) in paragraph 7(6) (disqualification as destination for pension credit) in the definition of “contracted-out rights”—

(a) in paragraph (a) omit “or (3)”;

(b) after paragraph (a) insert—

“(ab) an occupational pension scheme constituting a money purchase contracted-out scheme for the purposes of that Act, or”;

(c) in paragraph (b) for “which is” substitute “constituting”.