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The Pensions (Northern Ireland) Order 1995

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This is the original version (as it was originally made).

Hybrid occupational pension schemes

146.—(1) In spite of anything in sections 5 and 8 of the Pension Schemes Act (requirements for certification and determination of basis on which scheme is contracted-out), the Department may by regulations provide, where the pensions provided by an occupational pension scheme include both—

(a)such pensions that, if the scheme provided only those pensions, it would satisfy section 5(2) of that Act, and

(b)such other pensions that, if the scheme provided only those other pensions, it would satisfy section 5(3) of that Act,

for Part III of that Act to have effect as if the scheme were two separate schemes providing, respectively, the pensions referred to in paragraphs (a) and (b).

(2) Regulations made by the Department may, in connection with any provision made by virtue of paragraph (1), make such modifications of the following enactments, and the instruments made or having effect as if made under them, as appear to the Department desirable—

  • the Contributions and Benefits Act,

  • the Pension Schemes Act, and

  • Part II.

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