Prospective
Pensions (Northern Ireland) Order 1995 (NI 22)N.I.
6 The 1995 Order is amended as follows.N.I.
7 In Article 37 (payment of surplus to employer) in paragraph (1A)—N.I.
(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8 In Article 38 (power to defer winding up), in paragraph (3), for sub-paragraph (a) (but not the “or” at the end) substitute—N.I.
“(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .”.
9 In Article 51 (annual increase in rate of pension), in paragraph (1)(a)(iii), for “is not a money purchase scheme” substitute “ is not a defined contributions scheme ”.N.I.
10 In Article 51A (restrictions on increase where annuity tied to investments), in paragraph (1), for “money purchase scheme” substitute “ defined contributions scheme ”.N.I.
11 In Article 73 (preferential liabilities on winding up), for paragraph (2) substitute—N.I.
“(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .”.
12 In Article 75 (employer debt where deficiency in assets on winding up etc), for paragraph (1) substitute—N.I.
“(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(1A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(1B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .”.
13—(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14 For the italic cross-heading above Article 85 substitute “ Schemes providing money purchase benefits ”.N.I.
15 In the heading to Article 86 (schedules of payments to money purchase schemes: supplementary), for “to money purchase schemes” substitute “ in respect of money purchase benefits under certain schemes ”.N.I.
16—(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17 In Article 121 (interpretation), in paragraph (1), at the appropriate places insert—N.I.
““collective benefit” has the meaning given by section 8 of the Pension Schemes Act (Northern Ireland) 2016;”,
““defined benefits scheme” has the meaning given by section 2 of the Pension Schemes Act (Northern Ireland) 2016;”,
““defined contributions scheme” has the meaning given by section 4 of the Pension Schemes Act (Northern Ireland) 2016;”,
““occupational”, in relation to a defined benefits scheme, shared risk scheme or defined contributions scheme, means an occupational pension scheme of that description;”,
““shared risk scheme” has the meaning given by section 3 of the Pension Schemes Act (Northern Ireland) 2016;”.
18—(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N.I.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .