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The Occupational Pension Schemes (Contracting-out) Regulations (Northern Ireland) 1996

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Special provision for revaluation of guaranteed minimum pensions secured by insurance policies or annuity contracts

56.  A scheme may make provision under section 12(2) of the Act (revaluation of guaranteed minimum pensions under section 130 of the Administration Act by reference to last service year(1)) for the case of those of its members whose guaranteed minimum pensions are, or are to be, appropriately secured within the meaning of section 15(3) of the Act, notwithstanding that it makes no such provision for any other case.

(1)

Section 130 was amended by paragraph 40 of Schedule 7 to the Pension Schemes (Northern Ireland) Act 1993. See also Article 125(3) and (4) of the Pensions (Northern Ireland) Order 1995

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