http://www.legislation.gov.uk/id/nisr/1996/91/schedule

http://www.legislation.gov.uk/nisr/1996/91/schedule/part/IV/made

The Pensions (1995 Order) (Commencement No. 2) Order (Northern Ireland) 1996

Pensions

Personal pensions

Occupational pensions

Insurance

Trustees

Government Printer for Northern Ireland

2016-09-13

PENSIONS

This Order provides for the coming into operation of further provisions of the Pensions (Northern Ireland) Order 1995 (“the Order”) on the following dates—14th March 1996 for—the purpose only of authorising the making of orders under the Pension Schemes (Northern Ireland) Act 1993 (“the Pension Schemes Act”) specifying the reduction in the rates of State scheme contributions and the rebates payable in respect of members of contracted-out occupational pension schemes and appropriate personal pension schemes,the purpose only of authorising the making of certain regulations, in particular, under provisions relating to interim arrangements in relation to appropriate personal pension schemes and the discharge of protected rights by money purchase occupational pension schemes;6th April 1996 for—the purpose of bringing fully into operation those provisions which were commenced on 14th March 1996 for the purpose only of authorising the making of regulations,provisions relating to the disclosure of information by the Department, the aggregation of earnings in relation to Class 1 contributions and certain other general provisions of the Order,the purpose only of authorising the making of certain regulations under—Part II of the Order concerning the regulation of occupational pension schemes,Part IV of the Order concerning contracting-out,Part V of the Order concerning transfer values and penalties for breach of regulations under the Pension Schemes Act;1st June 1996 for—the purpose only of authorising the making of regulations about contracting-out by hybrid schemes;6th October 1996 for—certain provisions relating to member-nominated trustees and directors to come into operation for transitional purposes only;6th April 1997 for—Article 133 (new contracting-out requirements), in so far as it is not already in operation, and that day is designated as the principal appointed day for the purposes of Part IV of the Order.

SCHEDULE

Part IVProvisions coming into Operation on 6th April 1996 for the purpose only of Authorising the Making of Regulations

Provisions of the Order	Subject Matter
Article 10(2) and (3)	Civil penalties
Articles 16 to 21	Member-nominated trustees and directors
Article 27	Trustee not to be scheme auditor or actuary
Article 32	Decisions by majority of trustees
Article 33	Investment powers: duty of care
Article 35	Investment principles
Article 37	Payment of surplus to employer
Article 38	Power to defer winding up
Article 40	Restriction on employer-related investments
Article 41	Provision of documents for members
Article 47	Professional advisers
Article 49	Receipts, payments and records
Article 50	Resolution of disputes
Article 51	Annual increase in rate of pension
Articles 56 to 61	Minimum funding requirement
Article 67	Restriction on powers to alter schemes
Article 68	Power of trustees to modify schemes by resolution
Article 69	Grounds for applying to Authority for modification orders
Article 73	Preferential liabilities on winding up
Article 74(2), (3) and (5)(b)	Discharge of liabilities by insurance, etc.
Article 75	Deficiencies in the assets
Article 76	Excess assets on winding up
Article 77	Excess assets remaining after winding up: power to distribute
Articles 85 to 87	Money purchase schemes
Articles 89 to 93	Assignment, forfeiture, bankruptcy, etc.
Article 133	New requirements for contracted-out schemes
Article 134	State scheme contributions and rebates
Article 136	Money purchase and personal pension schemes: verification of ages
Article 137(1)	Reduction in State benefits for members of certified schemes
Article 138	State scheme, etc. premiums and buyback into State scheme
Articles 148 to 150	Transfer values
Article 151 for the purpose only of authorising the making of regulations relating to section 109 of the Pension Schemes Act	Penalties for breach of regulations under the Pension Schemes Act
Schedule 1, paragraph 36(a)(ii) and Article 119 in so far as it relates to that paragraph	Amendments consequential on Part II of the Order
Schedule 3, paragraph 14 (in so far as it relates to sections 7(5)(d), 30(2)(a), 46(4) and 159(6) of the Pension Schemes Act), paragraph 15(a) (in so far as it relates to section 3(1) of that Act) and paragraphs 21(a), 26(b), 27(b), 28, 30, 32, 37(b), 38, 40(c), 41(a), 55, 60(c) and 70 and Article 147 in so far as it relates to the above mentioned paragraphs	Amendments relating to Part IV, etc. of the Order
Schedule 4, paragraphs 6, 7 and 8(c) and (e) and Article 165 in so far as it relates to those paragraphs	General minor and consequential amendments