The Personal and Occupational Pension Schemes (Protected Rights) Regulations (Northern Ireland) 1997

Payments made under interim arrangements

7.—(1) For the purposes of section 24A(3)(b) (aggregate amount of payments made to a person under an interim arrangement in each successive period of 12 months must not be less than the prescribed percentage of the annual amount of the annuity which would have been purchasable by him on the relevant reference date) the prescribed percentage is 35 per cent.

(2) For the purposes of section 24A(5)(a) (the annual amount of the annuity which would have been purchasable by a person on any date shall be calculated in the prescribed manner) the prescribed manner is—

(a) in the case of payments to be made to a member in respect of protected rights which derive from minimum contributions and other amounts payable to the scheme in respect of any tax year up to and including the tax year 1996-1997, by reference to the current published table prepared by the Government Actuary in accordance with regulation 7(3)(a) of the Protected Rights Regulations;

(b) in the case of payments to be made to a widow or widower of a member in respect of protected rights which derive from minimum contributions and other amounts payable to the scheme in respect of any tax year up to and including the tax year 1996-1997, by reference to the current published table prepared by the Government Actuary in accordance with regulation 7(3)(b) of the Protected Rights Regulations;

(c) in the case of payments to be made—

(i) to a married member; or

(ii) on the first day of a succeeding period of 3 years beginning on the starting date to a member who marries during the interim period,

in respect of protected rights which derive from minimum contributions and other amounts payable to the scheme in respect of any tax year after the tax year 1996-1997, by reference to the current published table prepared by the Government Actuary in accordance with regulation 7(3)(c) of the Protected Rights Regulations;

(d) in the case of payments to be made—

(i) to an unmarried member;

(ii) to a widow or widower of a member;

(iii) on the first day of a succeeding period of 3 years beginning on the starting date to a member who becomes a widow or widower and remains so during the interim period; or

(iv) on the first day of a succeeding period of 3 years beginning on the starting date to a member whose marriage is dissolved and remains unmarried during the interim period,

in respect of protected rights which derive from minimum contributions and other amounts payable to the scheme in respect of a tax year after the tax year 1996-1997 by reference to the current published table prepared by the Government Actuary in accordance with regulation 7(3)(d) of the Protected Rights Regulations.