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The Pensions (Northern Ireland) Order 1995

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This is the original version (as it was originally made).

Annual increase in rate of personal pension

158.—(1) This Article applies to any pension provided to give effect to protected rights of a member of a personal pension scheme if—

(a)there is in force, or was in force at any time after the appointed day, an appropriate scheme certificate issued in accordance with Chapter I or Part III (certification) of the Pension Schemes Act, and

(b)apart from this Article, the annual rate of the pension would not be increased each year by at least the appropriate percentage of that rate.

(2) Where a pension to which this Article applies, or any part of it, is attributable to contributions in respect of employment carried on on or after the appointed day—

(a)the annual rate of the pension, or

(b)if only part of the pension is attributable to contributions in respect of employment carried on on or after the appointed day, so much of the annual rate as is attributable to that part,

must be increased annually by at least the appropriate percentage.

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