The Personal and Occupational Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 1997

Amendment of the Protected Rights (Transfer Payment) Regulations

6.—(1) The Protected Rights (Transfer Payment) Regulations (Northern Ireland) 1996(1) shall be amended in accordance with sub-paragraphs (2) and (3).

(2) In regulation 1(2)—

(a) in the definition of “overseas scheme” at the end there shall be added “by virtue of section 48(1)”; and

(b) for the definition of “section 5(2B) rights” there shall be substituted the following definition—

• ““section 5(2B) rights” are—

  (a)

  rights to the payment of pensions and accrued rights to pensions (other than rights attributable to voluntary contributions) under a scheme contracted-out by virtue of section 5(2B), so far as attributable to an earner’s service in contracted-out employment on or after the principal appointed day, and

  (b)

  where a transfer payment has been made to such a scheme, any rights arising under the scheme as a consequence of that payment which are derived directly or indirectly from—

  (i)

  such rights as are referred to in paragraph (a) under another scheme contracted-out by virtue of section 5(2B), or

  (ii)

  protected rights under another occupational pension scheme or under a personal pension scheme attributable to payments or contributions in respect of contracted-out employment on or after the principal appointed day;”.

(3) In regulation 4(e) at the end there shall be added “on or after the principal appointed day”.

(1)

S.R. 1996 No. 509