Pensions (No. 2) Act (Northern Ireland) 2008

2.  After Article 23A (pension sharing orders) insert—

“Pension compensation sharing orders

23B.— (1) For the purposes of this Order, a pension compensation sharing order is an order which—

(a) provides that one party’s shareable rights to PPF compensation that derive from rights under a specified pension scheme are to be subject to pension compensation sharing for the benefit of the other party, and

(b) specifies the percentage value to be transferred.

(2) In paragraph (1)—

(a) the reference to shareable rights to PPF compensation is to rights in relation to which pension compensation sharing is available under Chapter 1 of Part 3 of the Pensions (No. 2) Act (Northern Ireland) 2008 or under Chapter 1 of Part 3 of the Pensions Act 2008;

(b) “party” means a party to a marriage;

(c) “specified” means specified in the order.

Pension compensation: interpretation

23C.   In this Part—

“PPF compensation” means compensation payable under the pension compensation provisions;

“the pension compensation provisions” means—

(a)

Chapter 3 of Part 3 of the Pensions (Northern Ireland) Order 2005 (pension protection) and any regulations or order made under it,

(b)

Chapter 1 of Part 3 of the Pensions (No. 2) Act (Northern Ireland) 2008 (pension compensation on divorce etc.) and any regulations or order made under it, and

(c)

any provision corresponding to the provisions mentioned in paragraph (a) or (b) in force in Great Britain.”.