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The Welfare Reform and Pensions (Northern Ireland) Order 1999

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This is the original version (as it was originally made).

No forfeiture on bankruptcy of rights under pension schemes

14.—(1) In the Pension Schemes Act, after section 155 there shall be inserted—

No forfeiture on bankruptcy of rights under personal pension schemes.

155A.(1) A person’s rights under a personal pension scheme cannot be forfeited by reference to his bankruptcy.

(2) For the purposes of this section—

(a)a person shall be treated as having a right under a personal pension scheme where—

(i)he is entitled to a credit under Article 26(1)(b) of the Welfare Reform and Pensions (Northern Ireland) Order 1999 (sharing of rights on divorce etc.),

(ii)he is so entitled as against the person responsible for the scheme (within the meaning of Chapter I of Part V of that Order), and

(iii)the person so responsible has not discharged his liability in respect of the credit; and

(b)forfeiture shall be taken to include any manner of deprivation or suspension..

(2) In Article 90(2) of the Pensions Order (exceptions to the rule preventing forfeiture of rights under occupational pension schemes), sub-paragraph (b) (which allows forfeiture of such rights by reference to a scheme member’s bankruptcy) shall cease to have effect.

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