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The Social Security (Northern Ireland) Order 1988

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This is the original version (as it was originally made).

PART IITRANSFER VALUES

3.  In paragraph 12 of Schedule 1A to the Pensions Order

(a)in sub-paragraph (2), in the definition of “the relevant date”, after “means” insert “, subject to regulations under sub-paragraph (2C),”; and

(b)after sub-paragraph (2B) insert the following sub-paragraph—

(2C) Regulations—

(a)may provide that a right at the relevant date to the cash equivalent of any part of the benefits specified in sub-paragraph (1) which but for regulations under the foregoing provisions of this paragraph a member would have on the termination of his pensionable service in an employment to which a scheme applies shall, if his employment terminates at least one year before normal pension age, accrue to him on the date when it terminates and be valued accordingly; and

(b)may substitute, in relation to any case to which the regulations apply—

(i)a new definition of “the relevant date” for the definition in sub-paragraph (2), and

(ii)a new definition of “the last option date” for the definition in paragraph 15(2)..

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