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Pension Schemes Act (Northern Ireland) 2021
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Power to override contract terms
This section has no associated Explanatory Notes
41.—(1) Paragraph 6 of Schedule 18 to the Pensions Act (Northern Ireland) 2015 (power to restrict charges or impose requirements in relation to schemes: overriding provision) is amended as follows.
(2) After sub-paragraph (1) insert—
“(1A) The Department may by regulations provide that specified provisions override any term of a relevant contract to the extent that it conflicts with them.”.
(3) In sub-paragraph (2), at the end insert “or (1A)”.
(4) After sub-paragraph (2) add—
“(3) “Relevant contract” means a contract between the trustees or managers of a relevant scheme and a person providing services in relation to the scheme.”.
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