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The Pension Sharing (Implementation and Discharge of Liability) Regulations (Northern Ireland) 2000

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Unfunded occupational pension schemes other than public service pension schemes

8.—(1) The circumstances in which the trustees or managers of a scheme, to which paragraph 3 of Schedule 5 applies, may discharge their liability in respect of a pension credit in accordance with sub-paragraph (3)(c) of that paragraph are those specified in—

(a)sub-paragraphs (a) and (b) of paragraph (2), in the case of an approved scheme, and

(b)sub-paragraphs (a), (b) and (c) of paragraph (2), in the case of an unapproved scheme.

(2) The circumstances specified in this paragraph are—

(a)the liability of the trustees or managers has not been discharged in accordance with the provisions of paragraph 3(2) of Schedule 5;

(b)the person entitled to the pension credit has not consented to the discharge of liability in accordance with paragraph 3(3) of Schedule 5, and

(c)the employer who is associated with the scheme from which the pension credit derives—

(i)consents to the trustees or managers discharging their liability for the credit in accordance with paragraph 3(3) of Schedule 5, and

(ii)agrees to compensate the person entitled to the credit fully for any tax liability which he may incur as a result of the trustees or managers of the scheme discharging their liability for the credit in accordance with paragraph 3(3) of Schedule 5.

(3) In this regulation “approved scheme” means an occupational pension scheme which is approved for the purposes of Part XIV of the Income and Corporation Taxes Act 1988(1) and an “unapproved scheme” means an occupational pension scheme which is not approved for those purposes.

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